Oil price forecast for today: USCrude analysis 03.06.2022

The oil short-term trend turned up yesterday. The Intermediary Zone 114.72 – 114.28 was broken out yesterday. The upside target is the upper Target Zone 119.53 – 118.66.

The price is being corrected down now, approaching the Additional Zone 114.06 – 113.85. After the AZ is tested, I suggest entering purchases according to the pattern with the target at yesterday’s high.

If the Additional Zone is broken out downside and consolidates below, the correction could continue down to the Intermediary Zone 111.88 – 111.44.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 114.06 – 113.85.
  2. TakeProfit: 116.15.
  3. StopLoss: according to the pattern rules.

  1. Buy according to the pattern in Intermediary Zone 111.88 – 111.44.
  2. TakeProfit: 116.15.
  3. StopLoss: according to the pattern rules.

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