Oil price forecast for today: USCrude analysis 18.08.2022

The short-term oil downtrend continues. Yesterday, traders tested the Additional Zone 87.74 – 87.52. The zone has been held. Therefore, today looking for sales according to the pattern with a target at August 16 low is a matter of primary importance.

If the Additional Zone is broken out upside during the trading, the correction will continue up to the Intermediary Zone 90.10 – 89.67, which serves as the trend key resistance. After its test, also look for sales.

USCrude trading ideas for today:

  1. Sell according to the pattern in Additional Zone 87.74 – 87.52.
    TakeProfit: 85.46.
    StopLoss: according to the pattern rules.
  2. Sell according to the pattern in Intermediary Zone 90.10 – 89.67.
    TakeProfit: 85.46.
    StopLoss: according to the pattern rules.

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