The oil price has been corrected up to the key resistance of the short-term downtrend 76.03 – 75.50. Market participants are trying to break out this zone. If the key resistance is broken out, the oil trend will turn up. In this case, one could buy oil with a target in the upper Target Zone 81.80 – 80.75.
If the key resistance is held down, and there is a sell pattern, it will be relevant to sell with a target at the low of December 9. In this case, the short-term downtrend will continue.
USCrude trading ideas for today:
Sell according to the pattern at resistance (В) 76.03 – 75.50.
TakeProfit: 70.33.
StopLoss: according to the pattern rules.
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