USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $70.31 per barrel. According to technical analysis, the current trend indicates a weak upward trend with prices trading above the moving average intersections, and the MACD indicator shows a weak positive trend
Accordingly, you can buy while waiting for the price to rise to $71.18, and we will target $72.47 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $68.54 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the selling zone at 68.54 per barrel, the additional resistance level at $67.62 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 71.41
- First resistance: 71.19
- Pivot level: 70.80
- First support: 70.19
- Second support: 69.97
