Partition for Fact table

Dear All,

I would like to create a partition for the below fact table. Date_id has been stored in the Dimension table as 'yyyymmdd' and this is Primary key. In Fact table I am using below command to create partitions. Is it OK to proceed as below and expect suggestion to proceed.

CREATE TABLE FACT_TST1(

REC_ID NUMBER(13) constraint PKRECID_FCTTST PRIMARY KEY,

REC_VALUE number(7,3),

DATE_ID date,

TM_ID number(8),

TP_ID number(8),

SC_ID number(10),

PR_ID number(10),

LAST_UPDATED timestamp)

PARTITION BY RANGE (DATE_ID)

INTERVAL(numtoyminterval(1, 'MONTH'))

(PARTITION p_old_data VALUES LESS THAN (TO_DATE('2020-08-08', 'YYYY-MM-DD')));