The short-term oil uptrend continues. Traders are trying to break out the Target Zone 109.15 – 108 27. If the TZ is broken out, then the next growth target will be the Gold Zone 113.09 – 112.65.
As long as there is a struggle between sellers and buyers in the Target Zone, the oil price will be corrected. A possible correction target is a test of the Intermediary Zone 105.93 – 105.49. After the IZ test, look again for purchases according to the pattern with the first target at May 5 high.
USCrude trading ideas for today:
Buy according to the pattern in Intermediary Zone 105.93 – 105.49.
StopLoss: according to the pattern rules.