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Oil price forecast for today: USCrude analysis 29.06.2023

Oil continues trading flat. The oil traders tested the lower range border and entered purchases there yesterday. The price could test resistance (А) 70.32 – 70.03. Unless the zone is broken out, the price will go down and break through yesterday’s low.

If resistance (A) is broken out, the price will reach resistance (В) 71.91 – 71.48. One could also enter sell trades in the second resistance zone with a target at yesterday’s low.

USCrude trading ideas for today:

  1. Sell according to the pattern at resistance (А) 70.32 – 70.03.
    TakeProfit: 67.20.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern at resistance (В) 71.91 – 71.48.
    TakeProfit: 67.20.
    StopLoss: according to the pattern rules.





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