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Oil price forecast for today: USCrude analysis 03.12.2021

Yesterday, the short-term oil trend reversed up. The Intermediary Zone 65.11 – 64.86 was broken out. Today the price has reached the main target within the trend, the Target Zone 67.92 – 67.41. Further price growth will become possible after breaking out the Target Zone and price consolidation above level 67.92 at the US trading session.

It is profitable to consider oil purchases at strong support levels. Additional Zone 66.47 – 66.35 and Intermediary Zone 65.20 – 64.94 are strong supports today. The latter serves as the border of a short-term uptrend. Focus on today’s high as a target for purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 66.47 – 66.35.
  2. TakeProfit: 67.70.
  3. StopLoss: according to the pattern rules.

  1. Buy according to the pattern in Intermediary Zone 65.20 – 64.94.
  2. TakeProfit: 67.70.
  3. StopLoss: according to the pattern rules.

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