Oil price forecast for today: USCrude analysis  28.02.2022 

As a result of Russia’s military actions in Ukraine, investors fear an EU embargo on Russian oil. In this regard, oil price rose and today opened with a gap, reaching the upper Target Zone of 97.91 – 97.15. The short-term trend reversed up. The buyers’ target is to break out the TZ and consolidate the price above. In this case, the next target for purchases will be the Gold Zone 101.33 – 100.95.

It is profitable to consider long trades on corrections at strong support levels, Additional Zone 94.85 – 94.66 and Intermediary Zone 92.95 – 92.51. The latter acts as the trend key support. According to the margin zones’ methodology, the IZ provides the most favorable buy prices.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 94.85 – 94.66.

    TakeProfit: 97.15.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 92.95 – 92.51.

    TakeProfit: 97.15.

    StopLoss: according to the pattern rules.

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