Oil price forecast for today: USCrude analysis 20.04.2023

The oil price is going down and testing the key support of the short-term uptrend 79.03 – 78.60. The zone hasn’t been broken out, so when the price goes to the support zone and draws a buy pattern, one could enter a long trade with a target at the high of April 12.

If the price consolidates below level 78.60, the oil short-term trend will turn down. If so, starting from the next trading day, one could enter sell trades with a target at the lower Target Zone 74.68 – 73.81.

USCrude trading ideas for today:

Buy according to the pattern at support (В) 79.03 – 78.60.
TakeProfit: 83.30.
StopLoss: according to the pattern rules.

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