Analysis for oil, gold and, EUR/USD for 12.08.2020

Oil price forecast for today: USCrude analysis

Oil is trading in the medium-term uptrend. Traders are trying to break out the strong resistance at Target Zone 5 [41.67 – 40.92]. The price hasn’t yet consolidated above.

Expect a correction to buy oil at good prices.

The oil short-term trend is up. Oil is trading in the correction in the short-term timeframe. Yesterday, traders were testing the strong resistance Additional Zone [42.70 – 42.55]. The resistance test resulted in a small wave of sell-offs. For today, I suggest entering sell trades with the target at the trend key support Intermediary Zone [40.33…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>