The oil correction started yesterday. As part of the correction, the Additional Zone 77.75 – 77.63 was broken out, and the Intermediary Zone 79.16 – 78.90 was reached. Now the price is testing the Intermediary Zone – the trend border. If this zone is held and a sell pattern is formed, sell oil with the first target at November 18 low. The second target for sales will be the Gold Zone 75.93 – 75.67.
If the IZ is broken out upside and the price closes higher at the US trading session, then the short-term trend will reverse up. In this case, enter oil purchases. The target for purchases will be the upper Target Zone 81.96 – 81.45.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 79.47 – 79.22.
TakeProfit: 76.42, Gold Zone 75.93 – 75.67.
StopLoss: according to the pattern rules.