Oil price forecast for today: USCrude analysis
Oil is trading in the medium-term uptrend. The price is now trading under the resistance Target Zone 5 [41.67 – 40.92]. If it is broken out, the next growth target will be Target Zone 6 [49.17 – 48.42].
Otherwise, the price will be corrected down to the trend key support [33.64 — 32.86].
In the short-term timeframe, oil is trading between the support [39.32 – 39.15] and the resistance [40.37 – 40.20]. The short-term trend is up.
If the price breaks out the support [39.32 – 39.15], it should continue falling towards Intermediary Zone…
Read full author’s opinion and review in blog of #LiteForex