Oil price forecast for today: USCrude analysis  08.07.2022 

Yesterday, the short-term oil trend reversed up. As a result, the upper Target Zone 102.36 – 101.52 was reached. A correction is currently unfolding. Traders are testing the Additional Zone 99.79 – 99.58. If the AZ is held, the growth will continue, and yesterday’s high will be updated.

If the Additional Zone is broken out downside during today’s trading session, the correction will continue with the target in the Intermediary Zone 97.70 – 97.28, which serves as the trend’s border. After reaching it, also look for purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 99.79 – 99.58.
    TakeProfit: 101.81.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 97.70 – 97.28.
    TakeProfit: 101.81.
    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.