USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $68.98 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 weak negative trend
Accordingly, you can buy while waiting for the price to rise to 69.78, and we will target $70.83 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $68.02 per barrel.
USOIL Technical Analysis: On the other hand,
if the selling zone at 68.02 per barrel is broken, the additional resistance level at $67.32 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 69.68
- First Resistance: 69.30
- Pivot Level: 69.10
- First Support: 68.50
- Second Support: 68.10
