The short-term oil trend reversed up. As a result, the Target Zone 105.80 – 104 60 was reached. The TZ breakout upside and consolidation above will allow the price to rise to the Gold Zone 111.20 – 110.60.
If the Target Zone is not broken out, then the price will go into correction with the target in the Intermediary Zone 98.49 – 97.89. After reaching the IZ, look for purchases according to the pattern with the target at today’s high.
To enter sales and reverse the trend, traders need to consolidate the price below level 97.89 at the American trading session.
USCrude trading ideas for today:
Buy according to the pattern in Intermediary Zone 98.49 – 97.89.
StopLoss: according to the pattern rules.