Events in Ukraine are becoming more complicated. Due to this, many European leaders spoke out in favor of a Russian oil and gas blockade. As a result, WTI prices sharply strengthened from 94.85 to 104.75 during yesterday’s trading session. At the moment, a breakout of the Target Zone 2 105.51 – 104.75 and a further move to the Gold Zone 2 108.93 – 108.55 are expected.
It is reasonable to consider new oil purchases within a short-term uptrend at strong support levels, the Additional Zone 105.95 – 105.75 and the Intermediary Zone 103.95 – 103.55. To open long trades, wait for the zone test umbrella, look for a buy pattern and open a long trade with the target at today’s high.
USCrude trading ideas for today:
- Buy according to the pattern in Additional Zone 105.95 – 105.75.
TakeProfit: 108.55.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 103.95 – 103.55.
TakeProfit: 108.55.
StopLoss: according to the pattern rules.