Oil is being corrected in the short-term uptrend and is about to reach support (А) 70.89 – 70.60. One could enter new purchases in the first support zone with a target at the high of May 10. If this high is broken through, the next upside target will be the Gold Zone 75.85 – 75.56.
The trend key support is in the zone of 69.44 – 69.01. If the price reaches the key support, one could also enter purchases there.
The trend will turn down if the price breaks out level 69.01 and consolidates below.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 70.89 – 70.60.
TakeProfit: 73.75.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 69.44 – 69.01.
TakeProfit: 73.75.
StopLoss: according to the pattern rules.
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