Oil price forecast for today: USCrude analysis 14.12.2022

The oil price has been corrected up to the key resistance of the short-term downtrend 76.03 – 75.50. Market participants are trying to break out this zone. If the key resistance is broken out, the oil trend will turn up. In this case, one could buy oil with a target in the upper Target Zone 81.80 – 80.75.

If the key resistance is held down, and there is a sell pattern, it will be relevant to sell with a target at the low of December 9. In this case, the short-term downtrend will continue.

USCrude trading ideas for today:

Sell according to the pattern at resistance (В) 76.03 – 75.50.

TakeProfit: 70.33.

StopLoss: according to the pattern rules.

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