Oil price forecast for today: USCrude analysis 27.05.2022

The oil price has reached the upper Target Zone 112.59 – 112.72 in the short-term uptrend. The price hasn’t yet consolidated above the zone, and the price is being corrected. The correction likely target is to test the Additional Zone 111.57 – 111.35. After the AZ test, I recommend entering new longs according to the pattern with a target at yesterday’s high.

If the Additional Zone is broken out downside and consolidates below, the correction will continue deeper with a target at the trend border 109.38 – 108.95.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 111.57 – 111.35.
    TakeProfit: 113.69.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 109.38 – 108.95.
    TakeProfit: 113.69.
    StopLoss: according to the pattern rules.

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