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Oil price forecast for today: USCrude analysis 29.07.2022

The oil short-term downtrend continues as the price closed below level 96.70 at the US session yesterday. The downside target is to break through the low of July 25. It is relevant to enter short trades in the zone of 97.13 – 96.70.

It will be relevant to buy oil if the price breaks out level 97.13 and closes above it at the US trading session. In this case, the oil trend will turn up, and it will be relevant to buy with a target in the upper Target Zone 101.86 – 101.00.

USCrude trading ideas for today:

Sell according to the pattern in the Intermediary Zone 97.13 – 96.70.

TakeProfit: 92.50.

StopLoss: according to the pattern rules.






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