The oil short-term downtrend continued yesterday. The price reached the Gold Zone 88.02 – 87.59. Traders tried to break out the GZ but failed.
The oil market is being corrected and approaches the strong resistance, the Additional Zone 89.34 – 89.13. When the AZ is tested, I recommend entering new sell trades according to the pattern with a target at yesterday’s low.
If the Additional Zone is broken out upside, the correction will continue up to the Intermediary Zone 91.71 – 91.28. The IZ is the trend border, when it is reached, one could enter sell trades.
USCrude trading ideas for today:
- Sell according to the pattern in the Additional Zone 89.34 – 89.13.
TakeProfit: 87.06.
StopLoss: according to the pattern rules. - Sell according to the pattern in the Intermediary Zone 91.71 – 91.28.
TakeProfit: 87.06.
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 we may earn some commission.
