USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.22 per barrel. According to the technical analysis, the current trend indicates a weak upward trend with prices trading below the moving average intersections, and the MACD indicator shows a weak positive trend
Accordingly, you can sell while waiting for the price to drop to $68.89, and we will target $68.45 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.73 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $69.73 per barrel, the additional resistance level at $70.10 per barrel can be targeted.
USOIL Technical Analysis: Resistance and Support Levels
- Second Resistance: 69.61
- First Resistance: 69.49
- Pivot Level: 69.34
- First Support: 69.07
- Second Support: 68.95
