Analysis for oil, gold, and EUR/USD for 11.08.2020

Oil price forecast for today: USCrude analysis

Big traders are trying to break out the strong resistance at Target Zone 5 [41.67 – 40.92]. They have not yet broken out the zone, so we can sell oil in the correction.

The middle-term oil trend is still up. To enter purchases at good prices, expect a correction down to the trend key support [37.23 – 36.61]. When the support is tested look for a buy pattern. 

Let us look at the shorter timeframe to analyze the short-term trend. It is still up. The price is now trying to break out Target Zone…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>