Oil Forecast for today: USCrude analysis 07.12.2021

Oil continues following a short-term uptrend and breaks Target zone 68.74 – 68.16. The next buying target is Gold Zone 71.37 – 71.08. New long trades should be opened on corrections from the important support levels – Additional zone 69.05 – 68.90 and Intermediary zone 67.58 – 67.29. The latter is the trend’s limit.

To sell oil, traders need to break through the key support and settle underneath level 67.29. We will then have a shift to a downtrend, and the lower Target Zone 64.66 – 64.07 will be a target for short positions.

Trading plan for USCrude for today:

  1. Buy according to the pattern from Additional Zone 69.05 – 68.90.
  2. TakeProfit: 70.44.
  3. StopLoss: According to pattern rules.

  1. Buy according to the pattern from Intermediary Zone 67.58 – 67.29.
  2. TakeProfit: 70.44.
  3. StopLoss: According to pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.