Oil short-term trend turned up yesterday. The price broke out resistance (В) 78.40 – 77.87. The upside target is now the upper Target Zone 84.17 – 83.12.
One could enter long trades on the correction to strong support levels, support (А) 75.83 – 75.48 and support (В) 74.08 – 73.56. Before you enter a purchase, expect the test of either zone and a corresponding pattern.
The first upside target is around yesterday’s high.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 75.83 – 75.48.
TakeProfit: 79.29.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 74.08 – 73.56.
TakeProfit: 79.29.
StopLoss: according to the pattern rules.
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