Oil price forecast for today: USCrude analysis16.03.2022

The short-term oil downtrend continues. At the moment the price is correcting in the zone of good sell prices of 98.89 – 95.29. Use it to look for new short trades with the target in Target Zone 2 87.83 – 86.63.

To enter oil purchases, it is required to break out level 98.89 and consolidate the price higher at the American session. After that, the short-term trend will reverse up, and the upper Target Zone 105.49 – 104.29 will become the target for purchases.

USCrude trading ideas for today:

Sell according to the pattern in the zone of 98.89 – 95.29.

TakeProfit: Target Zone 2 87.83 – 86.63.

StopLoss: according to the pattern rules.

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