USOil Technical Analysis Today, oil is trading in a weak downtrend, recording a high of $69.25 per barrel and a low of $68.08, with the current price at $69.14 per barrel. This trend reflects a weakness in the downtrend.
USOIL Technical Analysis Technical Analysis:
Price action indicates that oil is trading above the moving averages, indicating a weakness in the current downtrend. The MACD indicator is also showing weak negative momentum, which may enhance the chances of a recovery and a return to the price rise.
Forward Outlook:
If prices continue to trade above the moving averages, we may witness a positive trend shift. Any signs of a reversal of negative momentum should be monitored, which may indicate a possible recovery in prices in the short term.

Trading strategies based on Buy/Sell level
USOIL | In case of buying | in case of selling |
Entry point | 69.84 | 67.90 |
Target Point 1 (TP1) | First resistance: 70.83 | First support: 67.08 |
Target Point 2 (TP2) | Second resistance: 71.40 | Second support: 66.68 |
Stop Loss (SL) | 67.90 | 69.84 |
The oil market appears to be in a volatile state, with signs of a weakening downtrend and positive prospects that could boost the chances of a recovery. It is important to follow future developments carefully, as they can significantly impact price movements.