On Friday, the oil priority bearish pattern yielded profits, within which traders updated February 16 low. After updating the low, the price corrected to the trend key resistance zone of 91.00 – 90.66. The price didn’t break out the resistance.
The downward impulse continues today. Therefore, look for sales with a target at February 18 low.
To enter oil purchases, traders need to update today’s high and consolidate the price higher. In this case, the short-term trend will reverse up, and the target for purchases will be the upper Target Zone 94.75 – 94.07.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 91.00 – 90.66.
TakeProfit: Target Zone 87.20 – 86.52.
StopLoss: according to the pattern rules.