Oil price forecast for today: USCrude analysis 22.02.2022

As a result of the aggravation of the geopolitical situation around Ukraine, the short-term oil trend reversed up. Black stuff’s price broke out the Intermediary Zone 91.00 – 90.66. Now the growth target is the upper Target Zone 94.75 – 94.07. Consider new oil purchases in the Additional Zone 92.00 – 91.83 and in the border of the new trend 90.30 – 89.96. Focus on today’s high as the first target for profit-taking.

If the upper Target Zone is broken out and the price consolidates higher, the next growth target will be the Gold Zone 97.80 – 97.46.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 92.00 – 91.83.

    TakeProfit: Target Zone 94.75 – 94.07.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone  90.30 – 89.96.

    TakeProfit: Target Zone 94.75 – 94.07.

    StopLoss: according to the pattern rules.

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