Oil

USOil Technical Analysis: Today’s oil price, in the global oil market, is trading at $70.40 per barrel. According to the technical analysis, the current trend indicates a downward trend with prices trading below the moving average intersections, and the MACD indicator also shows a negative trend direction
Accordingly, it is possible to sell from the decline to a price of 69.58, and we will target $68.42 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $71.66 per barrel.
USOil Technical Analysis: On the other hand
In case of breaking the buy zone at $71.66 per barrel, the additional support level at $72.61 per barrel can be targeted.
USOil Technical Analysis: Resistance and support levels
• Second resistance: 71.28
• First resistance: 70.91
• Pivot level: 70.65
• First support: 70.28
• Second support: 70.02