Yesterday, the short-term oil trend reversed up. The Intermediary Zone 101.94 – 101.51 was broken out. Now the upper Target Zone 106.76 – 105.88 serves as the target for purchases.
A correction is currently developing. As part of it, traders are testing the Additional Zone 102.82 – 102.60. Look for a buy pattern in this AZ. If it appears, open a long oil trade with the first target at yesterday’s high.
If the price breaks out the Additional Zone during today’s trading and consolidates below, the correction will continue with the target in the Intermediary Zone 100.63 – 100.20.
USCrude trading ideas for today:
- Buy according to the pattern in Additional Zone 102.82 – 102.60.
TakeProfit: 104.92, Target Zone 106.76 – 105.88.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 100.63 – 100.20.
TakeProfit: 104.92, Target Zone 106.76 – 105.88.
StopLoss: according to the pattern rules.
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