Oil price forecast for today: USCrude analysis 08.02.2022

Yesterday, the oil price corrected. The traders tested the Additional Zone 90.23 – 90.07 but didn’t break it out. The US trading session closed the price higher. So, today, a short-term uptrend continues with a target at February 4 high.

Today look for oil purchases with the target indicated above. If the February 4 high is broken out, the next buy target will be the Target Zone 3 94.54 – 93.95.

If today during the trading session the Additional Zone is broken out downside, the correction will continue with the target in the Intermediary Zone 88.69 – 88.38.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 90.23 – 90.07.

    TakeProfit: 91.75.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 88.69 – 88.38.

    TakeProfit: 91.75.

    StopLoss: according to the pattern rules.

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