Oil price forecast for today: USCrude analysis 30.10.2024

Yesterday, oil continued to trade in a short-term downtrend. As a result, the price has breached the Target Zone 68.92 – 68.02 and slumped below the October 28 low. The next bearish target is the Gold Zone 65.93 – 65.63. Currently, the price is correcting upward. The potential correction’s target is the resistance (A) 70.19 – 69.86. Once this zone is reached, short trades can be considered with the first target of 68.37.

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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