Analysis for oil, gold, and EUR/USD for 20.07.2020

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…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>