The oil short-term downtrend continued yesterday. The price reached Target Zone 85.41 – 84.66 again. Today, oil traders are trying to break out this zone. If they succeed and the US session closes the price below the zone, the next downside target will be Gold Zone 81.66 – 81.28.
Otherwise, the price could be corrected up to the trend key resistance zone 88.17 – 87.79.
I recommend entering new oil shorts when the price breaks through the low of November 10. Next, the margin requirements zones should be revised and rearranged, one could sell the instrument according to the pattern.
USCrude trading ideas for today:
Monitor the market.
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