Oil price forecast for today: USCrude analysis23.03.2022

The short-term oil uptrend continues. Yesterday’s high serves as the uptrend’s growth target. In case of an update of yesterday’s high, the second target will be the Target Zone 2 117.80 – 116.60.

At the moment, traders are trying to break out the Gold Zone 111.20 – 110.60. If they do not succeed, then a retest of the key support 106.85 – 106.25 with a possible breakout will follow.

There is no pattern for oil purchases on the chart. To enter sales, it is required to break out level 106.25 downside. Based on this, continue to monitor the situation.

USCrude trading ideas for today:

Buy according to the pattern in Intermediary Zone 106.85 – 106.25.

TakeProfit: 112.77.

StopLoss: according to the pattern rules.

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