The oil price has been corrected down to the key support of the short-term uptrend 77.66 – 77.10. If the zone is held up by the buyers, there will be a new bullish momentum, and the first upside target will be the high of last week, and the second one will be Target Zone 86.02 – 84.89.
If the trend key support is broken out, the trend will turn down. If so, one could sell oil starting from the next trading day at strong resistance levels with a target at the lower Target Zone 72.04 – 70.91.
USCrude trading ideas for today:
Buy according to the pattern at support (В) 77.66 – 77.10.
StopLoss: according to the pattern rules.