Analysis for oil, gold, and EUR/USD for 01.07.2020

Oil price forecast for today: USCrude analysis

Oil is now trading in the middle-term uptrend.

However, oil buyers cannot yet break out Target Zone 5 [41.67 – 40.92]. So, expect a correction down to the key support zone [33.64 – 32.86]. After the key support is tested, we shall enter buy trades according to the patterns with the target at the high of June.

Let us analyze the short-term chart. Oil is trading in the short-term uptrend, with the upside target to break through the high of June 23.

Oil traders broke out Additional Zone [39.06 – 38.87] and consolidated the…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>