Oil quotes corrected at the end of last week. The Intermediary Zone 117.15 – 116.73, which serves as the trend limit, was tested during the correction.
As that zone was held Friday, today’s priority plan is searching for a pattern to buy with the first target at 8 June’s high. A second buying target is the Gold Zone 123.47 – 123.03.
If the Intermediary Zone is broken out in today’s trading and the price consolidates below, the short-term trend will reverse down. We will then consider oil shorts with a target in the lower Target Zone of 112.97 – 112.14 starting tomorrow.
Trading plan for USCrude for today:
Buy according to the pattern from Intermediary Zone 117.15 – 116.73.
TakeProfit: 121.26.
StopLoss: according to pattern rules.

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.