Oil Forecast for today: USCrude analysis 25.01.2022

Market participants attempted Monday to break out the short-term uptrend’s key support at 84.00 – 83.70. They failed to consolidate below that zone. The US session is closing within support limits, so buying oil remains a priority today. The first target should be near the peak of 20 January, and the second target should be in the target zone 2 — 88.69 – 88.10.

If the US session closes below the Intermediary zone, the short-term trend will reverse down. We will then try to sell oil according to the pattern in the lower target zone 81.07 – 80.49.  

Trading plan for USCrude for today:

Buy according to the pattern from Intermediary Zone 84.00 – 83.70.

TakeProfit: 86.86.

StopLoss: According to pattern rules.

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