The oil short-term uptrend continues. Following a correction yesterday, the price reached the Intermediary Zone 70.23 – 69.94. Sellers have not broken out the zone, so, one could look for a signal to enter a long position with a target at yesterday’s high. The second upside target is Target Zone 74.59 – 74.01.
It will be relevant to sell when the trend reverses down via the breakout of the Intermediary Zone and price consolidation below level 69.94 at the US session. If so, the downside target will be the lower Target Zone 67.31 – 66.72.
USCrude trading ideas for today:
Buy according to the pattern in Intermediary Zone 70.23 – 69.94.
TakeProfit: 72.73, Target Zone 2, 74.59 – 74.01.
StopLoss: according to the pattern rules.