Oil price forecast for today: USCrude analysis19.04.2022

Yesterday, a short-term oil uptrend continued, within which the day’s high was updated. Then there was an attempt to break out the Gold Zone 107.34 – 106.87. However, traders failed to do this the first time. Then the price corrected and tested the Additional Zone 106.51 – 106.59. The AZ serves as a strong support level, in which it is possible to search for new purchases according to the pattern with a target at yesterday’s high.

If the Additional Zone is broken out downside during the trading session, then the correction will continue with the target in the Intermediary Zone 104.72 – 104.29. The IZ serves as the trend’s border, where it is also possible to look for purchases.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 106.51 – 106.59.
    TakeProfit: 109.00.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 104.72 – 104.29.
    TakeProfit: 109.00.
    StopLoss: according to the pattern rules.

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