Oil price forecast for today: USCrude analysis 25.08.2022

Yesterday, a short-term oil uptrend continued. As a result, the Additional Zone 92.91 – 92.70 worked out and the Target Zone 94.83 – 93.97 was broken out.

The next target for purchases is the Gold Zone 98.70 – 98.27. Consider new oil purchases on correction at strong support levels, Additional Zone 93.34 – 93.13 and Intermediary Zone 91.19 – 90.76.

To open a long trade, wait for the price to correct to the abovementioned levels and then look for a reversal buy pattern. Focus on today’s high as the first take-profit target.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 93.34 – 93.13.
    TakeProfit: 95.40.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 91.19 – 90.76.
    TakeProfit: 95.40.
    StopLoss: according to the pattern rules.

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