Last Friday, the oil price broke out the key resistance of the short-term downtrend 97.13 – 96.70 and reached the upper Target Zone 101.86 – 101.00. Next, the price was corrected down and tested the key support of the new trend 96.62 – 96.19. I recommend entering purchases in the key support zone according to the pattern with a target to break through the high of Friday.
If the price breaks out level 96.19 and consolidates below, the short-term trend will turn down. In this case, we will sell oil with a target in the lower Target Zone 92.32 – 91.46.
USCrude trading ideas for today:
Buy according to the pattern in the Intermediary Zone 96.62 – 96.19.
StopLoss: according to the pattern rules.