Oil price forecast for today: USCrude analysis
The middle-term trend on oil stays upward. At the moment, the price is trading in the area of a resistance zone [41.67 – 40.92]. Bulls are unable to break through this level, hence the development of correction is possible. If you see a reversal pattern, sell oil in a correction down to the key support zone [35.54 – 34.86].
The short-term trend is upward. At the moment, the price is trading close to a strong resistance – Additional Zone [40.64 – 40.47]. There is no pattern for longs, continue to monitor the huge traders’ moves.
If Additional Zone is…
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