Oil price forecast for today: USCrude analysis 18.05.2022

Yesterday, oil went into correction, within which an Additional Zone 110.97 – 110.75 was broken out. Today, the test of the Intermediary Zone 108.78 – 108.34 serves as the target of the correction. In this regard, it is possible to consider new oil sales in a strong resistance level of 111.33 – 111.15.

After reaching the Intermediary Zone, consider a buy pattern as the short-term trend remains up. Yesterday’s high and Target Zone 2 115.51 – 114.63 serve as the targets for purchases.

USCrude trading ideas for today:

Sell according to the pattern in Additional Zone 111.33 – 111.15.

TakeProfit: Intermediary Zone 108.78 – 108.34.

StopLoss: according to the pattern rules.

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