Oil price forecast for today: USCrude analysis 24.03.2022

The short-term oil uptrend continued yesterday. As a result, the previous local high was updated, and the price broke out the Gold Zone 111.20 – 110.60. The next growth target is the Target Zone 2 117.80 – 116.60. At the moment the price is correcting and trying to break out the Additional Zone 112.82 – 112.52. The AZ is a strong support, so it is possible to look for purchases in it to update today’s high.

If the AZ is broken out downside and the price consolidates below, then the correction will continue with the target in the Intermediary Zone 109.82 – 109.22.

USCrude trading ideas for today:

Buy according to the pattern in Additional Zone 112.82 – 112.52.

TakeProfit: 115.75.

StopLoss: according to the pattern rules.

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