The short-term oil downtrend continued yesterday. As a result, the Target Zone 112.97 – 112.14 was reached. After reaching the TZ, oil corrected and tested the Additional Zone 114.63 – 114.42.
The Additional Zone is a strong resistance level in which it is possible to consider new sales with the first target at yesterday’s low.
If yesterday’s low is updated, there will be a high probability of breaking out the Target Zone. In this case, the next sales target will be the Gold Zone 108.80 – 108.38.
USCrude trading ideas for today:
- Sell according to the pattern in Additional Zone 114.63 – 114 42.
TakeProfit: 112.38.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 116.93 – 116.51.
TakeProfit: 112.38.
StopLoss: according to the pattern rules.
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