Oil price forecast for today: USCrude analysis 04.02.2022

As part of yesterday’s correction, the traders failed to reach the Intermediary Zone 85.66 – 85.35. As a result, the upward impulse continued and the Additional Zone 87.54 – 87.38 was broken out. After this, the buyers updated the February 2 high and broke out the Target Zone 2 88.69 – 88.10. Now the target for purchases is the Gold Zone 2 91.32 – 91.03.

Look for new oil purchases on correction at strong support levels: Additional Zone 88.21 – 88.05 and Intermediary Zone 86.67 – 86.36. Focus on today’s high as the first target for purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 88.21 – 88.05.

    TakeProfit: 89.70.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 86.67 – 86.36.

    TakeProfit: 89.70.

    StopLoss: according to the pattern rules.

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