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Oil price forecast for today: USCrude analysis 22.11.2021

Last Friday, traders reached the Gold Zone 75.93 – 75.67. Today, at the opening of trading, they tried to break out the GZ, but unsuccessful. Now the price is trading in the correction. Buyers tested the Additional Zone 76.02 – 75.89, which serves as the first resistance of the correction. It is possible to look for sales according to the pattern in the beforementioned AZ. The first target for sales will be today’s low. The second target will be Target Zone 2 73.38 – 72.87.

If the Additional Zone is broken out during trading session, the correction will continue with the target in the Intermediary Zone 77.42 – 77.17. The IZ serves as the border of the downtrend. It is also profitable to enter sales in the beforementioned IZ.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 79.47 – 79.22. TakeProfit: 74.69, Target Zone 2 73.38 – 72.87. StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 77.42 – 77.17. TakeProfit: 74.69, Target Zone 2 73.38 – 72.87. StopLoss: according to the pattern rules.
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