Oil price forecast for today: USCrude analysis 10.12.2021

The oil short-term uptrend continues. Following a correction yesterday, the price reached the Intermediary Zone 70.23 – 69.94. Sellers have not broken out the zone, so, one could look for a signal to enter a long position with a target at yesterday’s high. The second upside target is Target Zone 74.59 – 74.01. 

It will be relevant to sell when the trend reverses down via the breakout of the Intermediary Zone and price consolidation below level 69.94 at the US session. If so, the downside target will be the lower Target Zone 67.31 – 66.72.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 70.23 – 69.94.

TakeProfit: 72.73, Target Zone 2, 74.59 – 74.01.

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.