Oil price forecast for today: USCrude analysis 21.02.2023

The oil short-term uptrend continues; the upside target is Target Zone 84.03 – 82.98. I recommend entering purchases after the false breakout of the low of February 17. The first upside target is the high of February 13.

If the key support 75.79 – 75.29 is broken out and the price consolidates below, the short-term trend will turn down. In this case, it will be relevant to sell oil with a target at the lower Target Zone 70.84 – 69.85.

USCrude trading ideas for today:

Buy according to the pattern at support (В) 75.79 – 75.29.
TakeProfit: 80.72.
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.