Oil price forecast for today: USCrude analysis 18.01.2023

Oil continues rising in the short-term uptrend. The upside target is Target Zone 84.17 – 83.12. It is relevant to enter purchases on the correction.

If the correction continues, the price will reach support (A) 78.12 – 77.77 or support (B) 76.37 – 75.85. After any of these supports is reached, I suggest entering a long trade according to the pattern with a target at today’s high.

USCrude trading ideas for today:

  1. Buy according to the pattern at support (А) 78.12 – 77.77.
    TakeProfit: 81.58.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern at support (В) 76.37 – 75.85.
    TakeProfit: 81.58.
    StopLoss: according to the pattern rules.

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