Oil price forecast for today: USCrude analysis  18.03.2022

The short-term oil trend reversed up. As a result, the Target Zone 105.80 – 104 60 was reached. The TZ breakout upside and consolidation above will allow the price to rise to the Gold Zone 111.20 – 110.60.

If the Target Zone is not broken out, then the price will go into correction with the target in the Intermediary Zone 98.49 – 97.89. After reaching the IZ, look for purchases according to the pattern with the target at today’s high.

To enter sales and reverse the trend, traders need to consolidate the price below level 97.89 at the American trading session.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 98.49 – 97.89.

TakeProfit: 104.60.

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.