Oil price forecast for today: USCrude analysis 26.10.2022

The short-term oil downtrend continues. Yesterday, traders once again tried to break out the Intermediary Zone 85.38 – 85.01. However, the American trading session closed inside.

Today searching for oil sales according to the pattern and holding existing ones remain the priority. It would be reasonable to place the Stop Loss beyond yesterday’s high. Set the first Take Profit at October 24 low and the second one at October 18 low.

If the Intermediary Zone is broken out during trading, and the price closes higher in the American trading session, the short-term trend will reverse up. In this case, look for oil purchases with the target in the upper Target Zone 89.51 – 88.76.

USCrude trading ideas for today:

Sell according to the pattern in Intermediary Zone 85.38 – 85.01.
TakeProfit: 82.44, 81.32.
StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.