Oil Price Forecast for Today: USCrude Analysis 17.01.2025

Oil continues to trade in a correction within the short-term uptrend. Yesterday, the price tested the Gold Zone 77.21 – 76.95, the support level, but failed to pierce it from above. Today, the asset is trying to continue the uptrend with the main target at the January 15 high.

If the price breaks through the support 77.21 – 76.95 today, the correction will continue to the support (A) 76.35 – 76.05. Consider long trades near this zone with the first target of 77.70 and the second one near 79.36.

USCrude Trading Ideas for Today:

Buy at support (A) 76.35 – 76.05.
TakeProfit: 77.70, 79.36.
StopLoss: 75.44.

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