Oil price forecast for today: USCrude analysis  02.09.2022

The short-term oil downtrend continued yesterday. As a result, the Target Zone 88.64 – 87.78 was broken out. The next target for sales is the Gold Zone 84.34 – 83.91.

At the moment, the price is correcting and testing the Additional Zone 88.11 – 87.89. The AZ serves as a strong resistance level in which new sales, according to the pattern, can be considered. The first target for sales will be yesterday’s low.

If the Additional Zone is broken out upside during the trading session, the correction will continue with the target in the Intermediary Zone 90.47 – 90.04.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 88.11 – 87.89.
    TakeProfit: 85.85.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 90.47 – 90.04.
    TakeProfit: 85.85.
    StopLoss: according to the pattern rules.

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