The oil price realized the priority buying pattern and updated 20 January’s high. The next target within a short-term uptrend is the Target zone 2, 88.69 – 88.10.
After updating a local high, the price corrected and tested the Additional zone 85.93 – 85.78. As long as the Additional zone is held, consider long positions targeted at yesterday’s high.
Sell oil with a target in the Intermediary zone 84.39 – 84.09 once the Additional zone is broken to the downside.
Trading plan for USCrude for today:
Buy according to the pattern from Additional Zone 85.93 – 85.78.
Target zone 2 at 88.69 – 88.10.
StopLoss: According to pattern rules.