Oil is testing the key resistance of a short-term downtrend at 69.32 – 68.87. That zone isn’t broken, so we can open short trades there today, with a target at 20 March’s low. To start selling, we need a reversal pattern.
Market participants must break out at 69.32 and consolidate positions above so that the short-term trend shifts to the upside. If that happens, the upper Target Zone 74.27 – 73.37 will be a target for long positions.
Trading plan for USCrude for today:
Sell according to the pattern from resistance (В) 69.32 – 68.87.
TakeProfit: 64.45.
StopLoss: according to pattern rules.
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