Oil price forecast for today: USCrude analysis 29.08.2022

The short-term oil uptrend continues. The Gold Zone 98.70 – 98.27 serves as the main growth target.

The trend key support of 91.28 – 90.85 was tested last week. This led to a buyers’ reaction and a price increase. Therefore, today the uptrend continues. Consider long trades according to the pattern with the first target at August 25 high.

To enter oil sales, traders need to break out the Intermediary Zone and consolidate the price lower.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 91.28 – 90.85.
TakeProfit: 95.50.
StopLoss: according to the pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.