USOIL Technical Analysis: weak decline

USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $68.26 per barrel. According to technical analysis, the current trend indicates a downward trend with prices trading below the moving average intersections, and the MACD indicator shows a negative trend

Accordingly, you can sell while waiting for the price to drop to $67.47, and we will target $66.44 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $69.55 per barrel.

USOIL Technical Analysis: On the other hand,

if the buying zone at $69.55 per barrel is broken, the additional resistance level at $70.25 per barrel can be targeted.

USOil Technical Analysis

USOIL Technical Analysis: Resistance and support levels

  • Second resistance: 68.83
  • First resistance: 68.59
  • Pivot level: 68.42
  • First support: 68.01
  • Second support: 67.77
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