USOil Technical Analysis

USOil Technical Analysis The price of oil today, in the global oil market, is trading at $69.54 per barrel. According to the technical analysis, the current trend indicates the end of the downtrend and the beginning of the emergence of an upward trend with prices trading above the moving average intersections, and the MACD indicator also shows the beginning of the emergence of a positive trend signal
Accordingly, it is possible to buy from the rise to a price of 70.08 and we will target $71.03 per barrel as a target to take profits. To ensure risk control, it is recommended to place a stop loss at $68.39 per barrel.

USOil Technical Analysis: On the other hand
In case of breaking the selling zone at $68.39 per barrel, the additional support level at $67.73 per barrel can be targeted.

USOil Technical Analysis: Resistance and support levels
• Second resistance: 71.38
• First resistance: 70.95
• Pivot level: 70.38
• First support: 69.09
• Second support: 68.50