USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.86 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 sell while waiting for the price to drop to $69.08, and we will target $68.04 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $71.13 per barrel.
USOIL Technical Analysis: On the other hand,
if the buying zone at $71.13 per barrel is broken, the additional resistance level at $71.82 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 70.40
- First resistance: 70.14
- Pivot level: 69.96
- First support: 69.70
- Second support: 69.52