Yesterday oil price went into correction and tried to reach the Intermediary Zone 77.42 – 77.17. The buyers failed to reach the IZ the first time. As a result, the price rolled back and is now testing the Additional Zone 75.73 – 75.60. The AZ serves as a strong support for today, so I suggest looking for new oil purchases in it with a target in the IZ.
If the Additional Zone is broken out and the price consolidates below, then the short-term downtrend will continue, and yesterday’s low will be updated. The next target after the updating of the low will be the Target Zone 2 73.38 – 72.87.
USCrude trading ideas for today:
Buy in Additional Zone 75.73 – 75.60.
TakeProfit: Intermediary Zone 77.42 – 77.17.
StopLoss: 75.14.
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