Oil is trading in the correction to a short-term uptrend. Currently, the traders are trying to break out the key support 70.23 – 69.94. If the price returns to support and forms a buy pattern, open long oil trades with the target around level 73.08.
If the price consolidates below the trend key support, then the trend will reverse down. In this case, consider oil sales with a target in the lower Target Zone 67.31 – 66.72.
USCrude trading ideas for today:
Buy according to the pattern in Intermediary Zone 70.23 – 69.94.
TakeProfit: 73.08, Target Zone 2 74.59 – 74.01.
StopLoss: according to the pattern rules.
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