Oil price forecast for today: USCrude analysis
Oil is trading in the middle-term uptrend. The price is again approaching Target Zone 5 [41.67 – 40.92]. If the zone is broken out, the next buy target will be Target Zone 6 [49.17 — 48.42].
Oil short-term trend is up. On June 29, the price broke out Additional Zone [39.06 – 38.87] and drew a 1-2-3 pattern to buy. Yesterday, the price was corrected to the 50% retracement level, giving thus a good entry point. The price is now rising according to the pattern. The upside target is the high of June 23….
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