Oil price forecast for today: USCrude analysis 28.10.2024

Oil has opened with a gap today and has fallen below the October 18 low. Thus, all bearish targets within the short-term downtrend have been achieved. If the asset pierces the Target Zone 68.92 – 68.02, the next bearish target will be the Gold Zone 65.93 – 65.63.

If the price remains above the Target Zone, a correction will start with the target at the resistance (A) 70.68 – 70.42. Consider long trades near this zone.

USCrude trading ideas for today:

Sell at resistance (A) 70.68 – 70.42.
TakeProfit: 69.38, 67.79.
StopLoss: 71.22.

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