Oil price forecast for today: USCrude analysis 02.02.2022

A flat oil pattern has been formed between levels 87.65 and 86.15. When the price exits the flat up, consider oil purchases with a target in the Golden Zone 2 91.32 – 91.03. When the price exits the flat down, consider oil sales with the target at the level of 84.82.

Level 84.82 serves as the border of a short-term uptrend. After reaching it, it will be possible to consider long trades according to the patterns.

If the trend key support is broken out during the trading session, then the target for sales will be the lower Target Zone 82.05 – 81.43.

USCrude trading ideas for today:

  1. Sell from the level of 87.65.

    TakeProfit: 85.76.

    StopLoss: 88.36.
  2. Buy from the level of 85.76.

    TakeProfit: 87.65.

    StopLoss: 85.06.

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