Oil price forecast for today: USCrude analysis 23.03.2023

The oil short-term trend turned up yesterday. The oil price broke out the key resistance 69.32 – 68.87. The upside target is the upper Target Zone 74.27 – 73.37.

It is relevant to enter new purchases at strong support levels, such as support (A) 68.31 – 68.01 and support (B) 66.81 – 66.36. To enter a trade, expect the test of support levels and detect a corresponding pattern. The first upside target will be yesterday’s high.

USCrude trading ideas for today:

  1. Buy according to the pattern at support (А) 68.31 – 68.01.
    TakeProfit: 71.25.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern at support (В) 66.81 – 66.36.
    TakeProfit: 71.25.
    StopLoss: according to the pattern rules.

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