Oil price forecast for today: USCrude analysis
Oil is now trading in the middle-term uptrend.
However, oil buyers cannot yet break out Target Zone 5 [41.67 – 40.92]. So, expect a correction down to the key support zone [33.64 – 32.86]. After the key support is tested, we shall enter buy trades according to the patterns with the target at the high of June.
Let us analyze the short-term chart. Oil is trading in the short-term uptrend, with the upside target to break through the high of June 23.
Oil traders broke out Additional Zone [39.06 – 38.87] and consolidated the…
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