Oil’s short-term uptrend continues developing. Friday’s maximum has been updated today. The next growth target is the target zone 112.59 – 111.72.
I recommend considering new longs during a correction from strong support levels, which are the additional zone 108.54 – 108.32 and the intermediary zone 106.35 – 105.92. The intermediary zone also serves as a trend boundary.
If the upper target zone is broken out today and the price consolidates above, the next buying target will be the golden zone 116.53 – 116.09.
Trading plan for USCrude for today:
- Buy according to the pattern from Additional Zone 108.54 – 108.32.
TakeProfit: 110.60, Target zone 112.59 – 111.72.
StopLoss: according to pattern rules. - Buy according to the pattern from Intermediary Zone 106.35 – 105.92.
TakeProfit: 110.60, Target zone 112.59 – 111.72.
StopLoss: according to pattern rules.
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