USOil Technical Analysis Today’s oil price, in the global oil market, is trading at $69.14 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 $68.80, and we will target $68.22 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $69.70 per barrel.
USOIL Technical Analysis: On the other hand
In case of breaking the buy zone at $69.70 per barrel, the additional resistance level at $70.01 per barrel can be targeted.
USOIL Technical Analysis: Resistance and support levels
- Second resistance: 69.55
- First resistance: 69.40
- Pivot level: 69.13
- First support: 68.98
- Second support: 68.71
