Oil price forecast for today: USCrude analysis 28.11.2022

The oil short-term downtrend continues today. The price reached Gold Zone  74.16 – 73.78. The price could be corrected up and test the nearest resistance levels. 

I recommend entering new sell trades on the correction either at resistance (A) 77.98 – 77.61 or at resistance (B) 80.04 – 79.48. Resistance (B) is the trend border. The downside target will be around today’s low. 

If the market continues declining and breaks out Gold Zone, the next downside target will be Target Zone 3, 70.41 – 69.66. 

USCrude trading ideas for today:

  1. Sell according to the pattern at resistance (А) 77.98 – 77.61.
    TakeProfit: 74.10.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern at resistance (B) 80.04 – 79.48.
    TakeProfit: 74.10.
    StopLoss: according to the pattern rules.

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