The short-term oil downtrend continues. Yesterday, the Gold Zone 96.98 – 96.56 was broken out. The next target for sales is the Target Zone 2, 92.80 – 91.97. At the moment, the price is correcting and trying to test the trend key resistance 97.76 – 97.35.
Consider new oil sales after testing the key resistance according to the pattern. Yesterday’s low serves as the first target for sales.
The trend reversal up by breaking out level 97.76 is required to enter purchases. In this case, the target for purchases will be the upper Target Zone 102.36 – 101.52.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 97.76 – 97.35.
StopLoss: according to the pattern rules.