Oil price forecast for today: USCrude analysis21.03.2022

Oil reached the Target Zone 105.80 – 104.60 as part of a short-term uptrend. Today, traders are trying to consolidate the price above this zone. If successful, the next target for purchases will be the Gold Zone 111.20 – 110.60.

It is profitable to consider new oil purchases on correction at strong support levels, the Additional Zone 103.69 – 103.39 and the Intermediary Zone 100.69 – 100.09.

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

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 103.69 – 103.39.

    TakeProfit: 106.57.

    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 100.69 – 100.09.

    TakeProfit: 106.57.

    StopLoss: according to the pattern rules.

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