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Oil price forecast for today: USCrude analysis 01.11.2024

Yesterday, oil continued its correction and hit the resistance (A) 70.19 – 69.86. If the price fails to settle above this area today, the decline will continue to the first target of 68.37 and the second one of 66.56. If bulls manage to hold the price above the resistance (A), the correction will extend to the resistance (B) 72.01 – 71.51, the trend’s boundary.

USCrude trading ideas for today:

Sell at resistance (A) 70.19 – 69.86.
TakeProfit: 68.37, 66.56.
StopLoss: 70.86.

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