Yesterday, traders tried unsuccessfully to break out the Additional Zone 86.66 – 86.51. As a result, a false breakout pattern was formed. Now the price continues to strengthen. The growth target is the January 28 high. After updating the high, expect a test of the outer border of the Target Zone 2 88.69.
To enter short trades, it is necessary that sellers hold the resistance level of 87.39 – 87.23. In this case, wait for the reversal pattern to appear and sell oil with the target in the Intermediary Zone 85.12 – 84.82.
USCrude trading ideas for today:
- Hold up a part of purchases entered in Additional Zone 86.66 – 85.61.
StopLoss: at the breakeven.
- Sell according to the pattern in the zone of 87.39 – 87.23.
TakeProfit: Intermediary Zone 85.12 – 84.82.
StopLoss: according to the pattern rules.