Oil is trading in the short-term downtrend. The sell target is the lower Target Zone 65.99 – 65.12. The price is being corrected up.
Following the correction, the price could test resistance (А) 70.29 – 70.00. Once this zone is tested, I suggest entering short tardes with a target at the low of May 31.
If resistance (A) is broken out, the price will reach resistance (В) 71.88 – 71.45. One could also enter sell tardes in the zone.
USCrude trading ideas for today:
- Sell according to the pattern at resistance (А) 70.29 – 70.00.
TakeProfit: 67.18.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 71.88 – 71.45.
TakeProfit: 67.18.
StopLoss: according to the pattern rules.
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