Oil price forecast for today: USCrude analysis 16.12.2021

The short-term oil uptrend continued, the trend key support 70.23 – 69.94 has been held. As a result, the price is rising. The growth target is level 73.06.

Consider and hold purchases today. It is profitable to enter new purchases on correction in the zone of 70.70 – 70.23. It is reasonable to place a stop loss beyond yesterday’s low.

Traders need to update yesterday’s low and consolidate the price lower to enter sales and reverse the trend. In this case, the trend will reverse down, and the target for sales will be the lower Target Zone 67.31 – 66.72.

USCrude trading ideas for today:

Enter purchases/hold purchases in Intermediary Zone 70.23 – 69.94.

TakeProfit: 73.06.

StopLoss: 69.13

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