Oil price forecast for today: USCrude analysis 20.11.2023

The oil price is being corrected up in the short-term downtrend and should reach resistance (В) 77.81 – 77.31. When the resistance zone is reached, one could enter new sell trades according to the pattern with a target at the low of November 16.

If resistance (B) is broken out, the short-term will turn up. If so, one could enter purchases starting from the next trading day with a target in the upper Target Zone 83.25 – 82.26.

USCrude trading ideas for today:

Sell according to the pattern at resistance (В) 77.81 – 77.31.
TakeProfit: 72.45.
StopLoss: according to the pattern rules.




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