Oil price forecast for today: USCrude analysis 28.10.2022

The short-term oil uptrend continued yesterday. As a result, the Target Zone 89.51 – 88.76 was reached. After that, the price corrected and tested the Additional Zone 87.42 – 87.23. If the AZ is held, the rise will continue, and yesterday’s high will be updated.

If the Additional Zone is broken out downside and the price consolidates below, the correction will continue with the target in the Intermediary Zone 85.54 – 85.17. It is also profitable to consider new purchases in the IZ with a target at yesterday’s high.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 87.42 – 87.23.
    TakeProfit: 89.24.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 85.54 – 85.17.
    TakeProfit: 89.24.
    StopLoss: according to the pattern rules.

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