The short-term oil trend changed to an upward one yesterday. The Intermediary Zone 69.31 – 69.01 was broken through. Now the target for longs is the upper Target Zone 72.52 – 71.94. I recommend looking for new longs at corrections from strong levels.
Strong support levels today are Additional Zone 70.22 – 70.07 and Intermediary Zone 68.75 – 68.46. In order to open a long trade, wait for a test of these levels, and then find a reversal pattern.
For shorts on oil, traders require a trend reversal with the level of 68.46 broken downwards.
USCrude trading ideas for today:
- Buy according to the pattern in Additional Zone 70.22 – 70.07.
- TakeProfit: 71.61.
- StopLoss: according to the pattern rules.
- Buy according to the pattern in Intermediary Zone 68.75 – 68.46.
- TakeProfit: 71.61.
- StopLoss: according to the pattern rules.
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