Oil volatility has decreased over the past couple of days. At the end of last week, the short-term trend reversed down. Now the target for sales is the lower Target Zone 99.83 – 98.63. On Friday last week, a correction in the trend key resistance zone of 108.42 – 107.80 occurred. The test of the zone was followed by sellers’ reaction and further price drop.
Today the price continues to decline. The first target of the fall is to update Friday’s low. The second target is to reach the lower TZ. Based on this, it is profitable to look for sales today.
To open purchases, traders need to reverse the short-term trend up by breaking out level 108.42.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 108.42 – 107.82.
TakeProfit: 102.00, Target Zone 99.83 – 98.63.
StopLoss: according to the pattern rules.