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 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 $68.28, and we will target $67.27 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss point at $69.95 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buying zone at 69.95 per barrel, the additional resistance level at $70.73 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.60
- First resistance: 69.30
- Pivot level: 68.97
- First support: 68.65
- Second support: 68.44
