Oil’s short-term uptrend continued on Friday. As a result, Target zone 112.59 – 111.72 was broken out. The next buying target is Golden zone 116.53 – 116.09. I recommend considering new long trades on corrections from strong support levels — Additional zone 113.02 – 112.80 and Intermediary zone 110.83 – 110.39.
If Additional zone is broken to the downside and the US session closes below it, we could exploit this situation and sell the asset with a target in Intermediary zone.
Trading plan for USCrude for today:
- Buy according to the pattern from Additional zone 113.02 – 112.80.
TakeProfit: 115.16.
StopLoss: According to pattern rules. - Buy according to the pattern from Intermediary Zone 110.83 – 110.39.
TakeProfit: 115.16.
StopLoss: According to pattern rules.
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.
