Oil price forecast for today: USCrude analysis 29.06.2022

The short-term oil uptrend continues. Yesterday, the Target Zone 110.30 – 109.47 was broken out. The next target for purchases is the Gold Zone 114.06 – 113.64.

Consider new oil purchases on correction at strong support levels, Additional Zone 109.05 – 108.84 and Intermediary Zone 106.97 – 106.55. To enter a trade, wait for the level test and look for the corresponding pattern. Focus on today’s high as the main target for purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 109.05 – 108.84.
    TakeProfit: 111.07.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 106.97 – 106.55.
    TakeProfit: 111.07.
    StopLoss: according to the pattern rules.

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