Oil price forecast for today: USCrude analysis 05.07.2022

The short-term oil trend reversed up. Yesterday, the Intermediary Zone 107.68 – 107.26 was broken out. Now the target for purchases is the upper Target Zone 112.27 – 111.43.

At the moment, oil correction is unfolding with the target of testing the Additional Zone 107.42 – 107.21. After the test, look for purchases according to the pattern with the first target at today’s high.

If during the trading the Additional Zone is broken out downside, the correction will continue with the target in the Intermediary Zone 105.33 – 104.91. After the IZ test, also look for new purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 107.42 – 107.21.
    TakeProfit: 109.47.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 105.33 – 104.91.
    TakeProfit: 109.47.
    StopLoss: according to the pattern rules.



Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission
.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.