Oil price forecast for today: USCrude analysis 24.02.2022

Yesterday, the key support of the short-term oil uptrend was held. A classic false breakout buy pattern was also formed. As a result, the price rose, and February 22 high was updated. Now the price is trying to consolidate above the Target Zone 94.74 – 94.06. If the buyers succeed, the next buy target will be the Gold Zone 97.80 – 97.46.

Look for new oil purchases on correction in strong support levels, Additional Zone 95.18 – 95.01 and Intermediary Zone 93.48 – 93.14. Focus on today’s high as the first target for profit-taking.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone  95.18 – 95.01.

    TakeProfit: 96.79.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone  93.48 – 93.14.

    TakeProfit: 96.79.

    StopLoss: according to the pattern rules.

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