Oil price forecast for today: USCrude analysis
Oil is trading in the middle-term uptrend. The price is now under the under the strong 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].
The shorter timeframe indicates that oil is trading in the local uptrend. Last week, buyers were again testing Target Zone 5 [41.67 – 40.92] trying to break through the high of June. They failed. We shall see if they…
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