Oil price forecast for today: USCrude analysis  09.05.2022

The short-term oil uptrend continues. Traders are trying to break out the Target Zone 109.15 – 108 27. If the TZ is broken out, then the next growth target will be the Gold Zone 113.09 – 112.65.

As long as there is a struggle between sellers and buyers in the Target Zone, the oil price will be corrected. A possible correction target is a test of the Intermediary Zone 105.93 – 105.49. After the IZ test, look again for purchases according to the pattern with the first target at May 5 high.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 105.93 – 105.49.

TakeProfit: 110.20.

StopLoss: according to the pattern rules.

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