USOIL Technical Analysis: weak decline

USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $71.52 per barrel. According to technical analysis, the current trend indicates a weak downward trend with prices trading above the moving average intersections, and the MACD indicator shows a negative trend

Accordingly, you can sell while waiting for the price to drop to $70.62, and we will target $69.48 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $72.67 per barrel.

USOIL Technical Analysis: On the other hand,

if the buying zone at $72.67 per barrel is broken, the additional resistance level at $73.52 per barrel can be targeted.

USOil Technical Analysis

USOIL Technical Analysis: Resistance and support levels

  • Second resistance: 71.94
  • First resistance: 71.76
  • Pivot level: 71.66
  • First support: 71.48
  • Second support: 71.38
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