Oil price forecast for today: USCrude analysis 22.12.2021

The short-term oil trend changed to an upward one yesterday. The Intermediary Zone 69.31 – 69.01 was broken through. Now the target for longs is the upper Target Zone 72.52 – 71.94. I recommend looking for new longs at corrections from strong levels.

Strong support levels today are Additional Zone 70.22 – 70.07 and Intermediary Zone 68.75 – 68.46. In order to open a long trade, wait for a test of these levels, and then find a reversal pattern.

For shorts on oil, traders require a trend reversal with the level of 68.46 broken downwards.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 70.22 – 70.07.
  2. TakeProfit: 71.61.
  3. StopLoss: according to the pattern rules.

  1. Buy according to the pattern in Intermediary Zone 68.75 – 68.46.
  2. TakeProfit: 71.61.
  3. StopLoss: according to the pattern rules.

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