Oil price forecast for today: USCrude analysis 07.06.2022

The short-term oil uptrend continues. Yesterday, traders tested the Additional Zone 117.03 – 116.82 but unsuccessfully. Today, the search for purchases according to the pattern is a priority for a trader. The target is yesterday’s high.

If yesterday’s high is updated, there will be a possibility of price consolidation above the Target Zone 119.53 – 118.66. In this case, the next buy target will be the Gold Zone 123.47 – 123.03.

If the Additional Zone is broken out downside during the trading session and the price consolidates lower, the correction will continue with the target in the Intermediary Zone 114.95 – 114.53.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 117.03 – 116.82.
    TakeProfit: 119.13.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 114.95 – 114.53.
    TakeProfit: 119.13.
    StopLoss: according to the pattern rules.

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