Oil’s short-term uptrend continues developing. The growth target is 9 November’s high at 73.08. The next buying target will be the Target zone 2, 74.59 – 74.01.
The trend’s key support level is 70.23 – 69.94. It’s from there that long positions could be opened with the above-mentioned targets. If you haven’t opened long positions, wait for a new correction to go long.
For the trend to reverse, the level 69.94 should be broken. We will then have a shift to a downtrend, and the lower Target Zone 67.31- 66.72 will be a target to sell.
Trading plan for USCrude for today:
Hold long positions from Intermediary Zone 70.23 – 69.94.
TakeProfit: 73.08, Target zone 2 at 74.59 – 74.01.
StopLoss: at a breakeven level.
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