Oil price forecast for today: USCrude analysis22.03.2022

The short-term oil uptrend continues. As part of yesterday’s growth, the Gold Zone 111.20 – 110.60 was reached. At the moment, traders are trying to break out this zone and consolidate the price higher. If successful, the next target for purchases will be Target Zone 2 117.80 – 116.60.

It is profitable to look for new oil purchases on correction at strong support levels, Additional Zone 109.52 – 109.22 and Intermediary Zone 106.52 – 105.92. The latter serves as a trend border and provides the best buy prices. Focus on today’s high as a target for profit-taking.

USCrude trading ideas for today:

  1. Buy according to the pattern in Additional Zone 109.52 – 109.22.
    TakeProfit: 112.50.
    StopLoss: according to the pattern rules.
  2. Buy according to the pattern in Intermediary Zone 106.52 – 105.92.
    TakeProfit: 112.50.
    StopLoss: according to the pattern rules.

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