Oil price forecast for today: USCrude analysis 22.02.2023

The oil price continues falling and could break through the low of February 17 soon. If the low is broken through, the price could consolidate below the key support of the short-term uptrend 75.79 – 75.29. If so, the trend will turn down, and it will be relevant to sell oil with a target at the lower Target Zone 70.84 – 69.85.

If the margin zone 75.79 – 75.29 is not broken out and there is a buy pattern, you could enter a long trade with a target at the high of February 13.

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.

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