A short-term oil uptrend continued yesterday, as a result, the upper Target Zone 72.52 – 71.94 was broken out. Now the target for purchases is the Gold Zone 75.16 – 74.86. I recommend considering new purchases on correction at strong support levels: Additional Zone 71.67 – 71.52 and Intermediary Zone 70.20 – 69.91. Look for a buy pattern at these levels and open a long trade with the first target at today’s high.
In order to enter oil sales, traders need to consolidate the price below the trend key support, namely the level of 69.91. If this happens, consider oil sales with the target in the lower Target Zone 67.28 – 66.69.
USCrude trading ideas for today:
- Buy according to the pattern in Additional Zone 71.67 – 71.52.
- TakeProfit: 73.00.
- StopLoss: according to the pattern rules.
- Buy according to the pattern in Intermediary Zone 70.20 – 69.91.
- TakeProfit: 73.00.
- StopLoss: according to the pattern rules.
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