Oil price forecast for today: USCrude analysis 06.12.2022

The oil price has been corrected down to the key support of the short-term uptrend 77.66 – 77.10. If the zone is held up by the buyers, there will be a new bullish momentum, and the first upside target will be the high of last week, and the second one will be Target Zone 86.02 – 84.89.

If the trend key support is broken out, the trend will turn down. If so, one could sell oil starting from the next trading day at strong resistance levels with a target at the lower Target Zone 72.04 – 70.91.

USCrude trading ideas for today:

Buy according to the pattern at support (В) 77.66 – 77.10.
TakeProfit: 83.21.
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.