The oil short-term downtrend continues. The downside target is Target Zone 2, 73.11 – 72.45. It is beneficial to sell on the correction to resistance (А) 78.65 – 78.23 or resistance (В) 80.38 – 79.88. An intermediary sell target is the low of November 8.
If the oil price breaks out resistance (B) and consolidates above, the short-term trend will turn up, and it will be relevant to buy. If so, the upside target will be in the upper Target Zone 85.82 – 84.83.
USCrude trading ideas for today:
- Sell according to the pattern at resistance (А) 78.56 – 78.23.
TakeProfit: 75.03.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 80.38 – 79.88.
TakeProfit: 75.03.
StopLoss: according to the pattern rules.
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