Analysis for oil, gold, and EUR/USD for 02.07.2020

Oil price forecast for today: USCrude analysis

Oil is trading in the middle-term uptrend. The price is again approaching Target Zone 5 [41.67 – 40.92]. If the zone is broken out, the next buy target will be Target Zone 6 [49.17 — 48.42].

Oil short-term trend is up. On June 29, the price broke out Additional Zone [39.06 – 38.87] and drew a 1-2-3 pattern to buy. Yesterday, the price was corrected to the 50% retracement level, giving thus a good entry point. The price is now rising according to the pattern. The upside target is the high of June 23….<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>