USOil Technical Analysis, in the global oil market, the price is trading at the area of $78.91 per barrel. According to technical analysis, the current trend indicates an upward trend with prices trading above the intersections of the moving average, and the MACD indicator also shows positive signs.
Accordingly, we can buy from the rise to the price of 79.63, and we will target $80.87 per barrel as a profit-taking target. To ensure risk control, it is recommended to set a stop loss point at the $77.45 per barrel area.
USOil Technical Analysis: On the other side
If the stop loss area at 77.45 per barrel is broken, targeting the additional support level at $76.56 per barrel could be achieved.
USOil Technical Analysis: USOIL resistance and support levels
• Second resistance: 79.89
• First resistance: 79.64
• Pivot level: 79.05
• First support: 78.73
• Second support: 78.30