The oil price could consolidate above the key resistance of the short-term downtrend 78.26 – 77.73. The price hasn’t yet consolidated above the resistance zone. In case the market goes down below the resistance, one could enter sell trades with a target at the low of February 6.
If the US session closes the price above level 78.26, the short-term trend will turn up. In this scenario, it will be relevant to enter purchases with a target in the upper Target Zone 84.03 – 82.98.
USCrude trading ideas for today:
Sell according to the pattern around resistance (B) 78.26 – 77.73.
TakeProfit: 72.53.
StopLoss: according to the pattern rules.
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