Oil price forecast for today: USCrude analysis 10.06.2022

Yesterday, oil was trading in correction. As part of it, the Additional Zone 109.24 – 109.03 was tested. The AZ was held, so today look for purchases according to the pattern with the first target at June 8 high.

If the Additional Zone is broken out during trading today, the correction will continue with the target in the Intermediary Zone 117.15 – 116.73. After its test, start looking for long trades with the target indicated above.

To enter oil sales and reverse the trend, traders need to consolidate the price below level 116.73.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 119.24 – 119.03.
    TakeProfit: 121.26.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 117.15 – 116.73.
    TakeProfit: 121.26.
    StopLoss: according to the pattern rules.

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