Analysis for oil, gold, and EUR/USD for 16.07.2020

Oil price forecast for today: USCrude analysis

Oil is trading in the medium-term uptrend. The price is now trading 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 short-term trend is up. The price broke out the intraday resistance Additional Zone [40.37 – 40.20] yesterday. The trading ideal to sell oil on the correction didn’t work out.

We shall now expect until the high of June is…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>