Oil price forecast for today: USCrude analysis 21.01.2022

Yesterday, once again, the price updated the local high after the test of the Additional Zone. However, it did not approach the next Margin Zone but instead went into a correction and tested the Intermediary Zone 84.00 – 83.70. The IZ serves as the border of a short-term uptrend, so today, I suggest looking for a buy pattern with the first target at yesterday’s high. The second target for purchases will be Target Zone 2 88.69 – 88.10.

Traders need to break out level 83.70 downside to enter oil sales and reverse the trend. In this case, consider short trades with the target in the lower Target Zone 81.07 – 80.49.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 84.00 – 83.70.

TakeProfit: 86.86.

StopLoss: according to the pattern rules.

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