Oil price forecast for today: USCrude analysis 13.05.2022

The development of a short-term oil uptrend continues, within which the Target Zone 106.76 – 105.88 was reached today. Further oil strengthening will depend on the buyers’ ability to break out the Target Zone and consolidate the price higher. If this happens, the next buy target will be the Gold Zone 110.69 – 110.26.

At the moment, there is an attempt to develop a corrective movement, with the target in the Additional Zone 104.34 – 104.13. After testing the AZ, look for a new buy pattern with a target at today’s high.

The trend key support is shifting to the zone of 102.16 – 101.72.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 104.34 – 104.13.
  2. TakeProfit: 106.49.
  3. StopLoss: according to the pattern rules.

  1. Buy according to the pattern in Intermediary Zone 102.16 – 101.72.
  2. TakeProfit: 106.49.
  3. StopLoss: according to the pattern rules.

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