Yesterday, after the growth at the European trading session, the price closed near the trend key support 88.69 – 88.38. Today, sellers are trying to break out this key support. To make it happen, they need to break out level 87.75. If the US trading session closes the price below the abovementioned level, the short-term trend will reverse down. In this case, sell oil with the target in the lower Target Zone 85.61 – 85.00.
Traders need to hold a trend key support to enter oil purchases and form a pattern. In this case, the target for long trades will be February 4 high.
USCrude trading ideas for today:
Watch the market.