Oil is trading in the short-term uptrend. Last Friday, market participants were testing support (A) 74.06 – 73.69. Buyers featured a response and entered long trades in the zone. It is relevant to buy with a target at the high of December 15.
If support (A) is broken out, the correction will continue down to support (B) 72.19 – 71.62, which is the trend border. Once the zone is reached, one could also enter buy trades.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 74.06 – 73.69.
TakeProfit: 77.77.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 72.19 – 71.62.
TakeProfit: 77.77.
StopLoss: according to the pattern rules.
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