The short-term oil downtrend continued yesterday. As a result, the Gold Zone 65.08 – 64.83 was reached. After reaching the GZ, large sales were closed and speculative buy trades were opened. As part of the correction, the price reached the trend key resistance 67.10 – 66.84.
Today the short-term trend reversed up as the Intermediary Zone 67.10 – 66.84 was broken out. Now the target for purchases is the upper Target Zone 69.90 – 69.39. At the bottom, the zone of good buy prices has been formed, which consists of a price range of 67.02 – 65.49. In this zone, I recommend looking for a pattern to enter a long trade and fixing the first part of the trade when the price breaks out the day’s high.
USCrude trading ideas for today:
Open buy positions according to the pattern in 67.02 – 65.49.
TakeProfit: 68.24, Target Zone 69.90 – 69.39.
StopLoss: according to the 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
