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.
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.
