Despite the oil price growth at the end of the US session yesterday, the short-term downtrend continues. The price broke through the low of August 1, and the Target Zone 92.32 – 91.46 was also broken out. The next downside target will be the Gold Zone 88.02 – 87.59.
I recommend entering new short trades on the corrections at the strong resistance levels. First, one should enter shorts in the Additional Zone 92.22 – 92.01. The downside target will be to break through yesterday’s low.
If the price breaks through yesterday’s low, the strong resistance levels should be rearranged.
USCrude trading ideas for today:
- Sell according to the pattern in the Additional Zone 92.22 – 92.01.
TakeProfit: 89.93.
StopLoss: according to the pattern rules. - Sell according to the pattern in the Intermediary Zone 94.59 – 94.16.
TakeProfit: 89.93.
StopLoss: according to the pattern rules.
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