Oil price forecast for today: USCrude analysis 26.08.2022

The short-term oil trend remains up. The main target for purchases is the Gold Zone 98.70 – 98.27. Yesterday, a correction occurred, within which traders tested the Additional Zone 93.43 – 93.22. The AZ was broken out during the American trading session, so the correction is expected to continue in the Intermediary Zone 91.28 – 90.85.

If within the correction the price reaches the Intermediary Zone, consider new purchases with the target at yesterday’s high. The second option implies the return of the price to the Additional Zone and the closing of the American trading session above the level of 93.43. In this case, consider purchases in Additional Zone 93.43 – 93.22 with the target at yesterday’s high.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 91.28 – 90.85.
TakeProfit: 95.50.
StopLoss: according to the pattern rules.

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