Oil price forecast for today: USCrude analysis 07.07.2022

The short-term oil downtrend continues. Yesterday, the Gold Zone 96.98 – 96.56 was broken out. The next target for sales is the Target Zone 2, 92.80 – 91.97. At the moment, the price is correcting and trying to test the trend key resistance 97.76 – 97.35.

Consider new oil sales after testing the key resistance according to the pattern. Yesterday’s low serves as the first target for sales.

The trend reversal up by breaking out level 97.76 is required to enter purchases. In this case, the target for purchases will be the upper Target Zone 102.36 – 101.52.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 97.76 – 97.35.
TakeProfit: 93.28.
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.