Oil short-term uptrend continues. Last Friday, the price broke out Target Zone 89.51 – 88.76. The upside target is now the Gold Zone 92.88 – 92.51.
Currently, the price is being corrected and testing the Additional Zone 90.20 – 90.01. The AZ is the strong support level, where one could enter new oil purchases with a target at the high of last Friday.
If the AZ is broken out downside, the correction will continue down to the Intermediary Zone 88.32 – 87.95. The IZ is the border of the short-term uptrend. When it is reached by the price, one could enter purchases according to the pattern.
USCrude trading ideas for today:
- Buy according to the pattern in Additional Zone 90.20 – 90.01.
TakeProfit: 92.06.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 88.32 – 87.95.
TakeProfit: 92.06.
StopLoss: according to the pattern rules.
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