Oil price forecast for today: USCrude analysis 15.08.2022

Oil is correcting in a short-term uptrend. The test of the Intermediary Zone 90.00 – 89.57 serves as a probable correction target. After the test, consider purchases according to the pattern with the target at August 11 high. The upper Target Zone 95.83 – 94.97 serves as the main growth target.

If during trading the Intermediary Zone is broken out downside and the price closes lower in the American trading session, the short-term trend will reverse down. In this case, consider oil sales with the target in the lower Target Zone 85.70 – 84.84.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 90.00 – 89.57.

TakeProfit: 94.25.

StopLoss: according to the pattern rules.

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