Oil price forecast for today: USCrude analysis 21.02.2022

On Friday, the oil priority bearish pattern yielded profits, within which traders updated February 16 low. After updating the low, the price corrected to the trend key resistance zone of 91.00 – 90.66. The price didn’t break out the resistance.

The downward impulse continues today. Therefore, look for sales with a target at February 18 low.

To enter oil purchases, traders need to update today’s high and consolidate the price higher. In this case, the short-term trend will reverse up, and the target for purchases will be the upper Target Zone 94.75 – 94.07.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 91.00 – 90.66.

TakeProfit: Target Zone 87.20 – 86.52.

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.