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Oil price forecast for today: USCrude analysis 18.11.2021

The short-term oil downtrend continued. As a result, the Target Zone 78.48 – 77.97 was broken out. Now the target for sales is the Gold Zone 75.93 – 75.67. I recommend looking for new oil sales on correction at strong resistance levels.

The Additional Zone 78.07 – 77.94 and the Intermediary Zone 79.47 – 79.22 serve as strong resistances. To open sales, wait for a correction, a test of the zone, and the formation of a reversal pattern. Focus on today’s low as the first profit-taking target.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 78.07 – 77.94. TakeProfit: Gold Zone 75.93 – 75.67. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 79.47 – 79.22. TakeProfit: Gold Zone 75.93 – 75.67. StopLoss: according to the pattern rules.
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