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Oil price forecast for today: USCrude analysis

The short-term oil uptrend continued. As a result, the Gold Zone 110 was broken out. 69 – 110.26. The next growth target is the Target Zone 2 115.51 – 114.63. It is profitable to consider new oil purchases on correction at strong support levels.

The Additional Zone 110.43 – 110.21 and the Intermediary Zone 108.24 – 107.81 are strong support levels. To open a long trade, wait for the test of the levels indicated above and the formation of the corresponding buy pattern.

To enter oil sales and reverse the trend, traders need to break out level 107.81 downside.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 110.43 – 110.21.
    TakeProfit: 112.54.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 108.24 – 107.81.
    TakeProfit: 112.54.
    StopLoss: according to the pattern rules.



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