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Oil price forecast for today: USCrude analysis 19.05.2022

Yesterday, the short-term oil trend reversed down. The Intermediary Zone 108.78 – 108.34 was broken out. Now the lower Target Zone 104.41 – 103.53 serves as the sales target.

A correction is currently developing with a target to test the trend key resistance of 109.48 – 109.05. After the test, consider new oil sales according to the pattern.

It is required to break out the Intermediary Zone 109.48 – 109.05 and consolidate the price in the American session higher to enter oil purchases.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 109.48 – 109.05.

TakeProfit: Target Zone 104.41 – 103.53.

StopLoss: according to the pattern rules.





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