The oil price started a correction down in the short-term uptrend yesterday. The price tested support (А) 79.15 – 78.80. The support zone has not been broken out, and one could enter new purchases with a target at yesterday’s high.
If the correction continues today, the price should reach support (B) 77.40 – 76.88. Support (B) is the trend border, so I recommend entering long trades in the zone with a target at yesterday’s high.
It won’t be relevant to sell until the price consolidates below level 76.88, turning the short-term trend down.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 79.15 – 78.80.
TakeProfit: 82.60.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 77.40 – 76.88.
TakeProfit: 82.60.
StopLoss: according to the pattern rules.
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