Oil price forecast for today: USCrude analysis 17.12.2021

In their attempts to raise the price, oil buyers faced strong resistance of 72.41 – 72.12. This resistance was held yesterday, indicating sellers’ interest in this zone. Today consider oil sales in this zone with a target at the December 15 low.

The short-term trend will reverse down if the December 15 low is updated. In this case, expect oil price in the lower Target Zone 67.31 – 66.72.

Purchases will become possible after the breakout of level 72.41 and consolidating the price higher. In this case, consider purchases with the target in the upper Target Zone 74.59 – 74.01.

USCrude trading ideas for today:

Sell in Intermediary Zone 72.41 – 72.12.

TakeProfit: 69.50.

StopLoss: 73.72.

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