In their attempts to raise the price, oil buyers faced strong resistance of 72.41 – 72.12. This resistance was held yesterday, indicating sellers’ interest in this zone. Today consider oil sales in this zone with a target at the December 15 low.
The short-term trend will reverse down if the December 15 low is updated. In this case, expect oil price in the lower Target Zone 67.31 – 66.72.
Purchases will become possible after the breakout of level 72.41 and consolidating the price higher. In this case, consider purchases with the target in the upper Target Zone 74.59 – 74.01.
USCrude trading ideas for today:
Sell in Intermediary Zone 72.41 – 72.12.