In the short-term downtrend, the oil price reached the lower Target Zone 72.04 – 70.91. If the price continues falling and breaks out the Target Zone, the next downside target will be the Gold Zone 68.54 – 68.19.
There could start a correction now. If the correction develops, the price could go up to the resistance zone 75.82 – 75.47. One could enter new short trades in the resistance zone according to the pattern with a target at yesterday’s low.
The trend border is in the zone of 77.75 – 77.22.
USCrude trading ideas for today:
- Sell according to the pattern at resistance (А) 75.82 – 75.47.
TakeProfit: 72.04.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 77.75 – 77.22.
TakeProfit: 72.04.
StopLoss: according to the pattern rules.
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