Oil is being corrected in the short-term uptrend. The correction target is the test of support (A) 79.17 – 78.82. After this zone is tested, one can enter new purchases with a target at the high of January 23. The second upside target is Target Zone 84.17 – 83.12.
It will be relevant to sell when the price breaks out level 76.89 and consolidates below, as the short-term trend will turn down in this case.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 79.17 – 78.82.
TakeProfit: 82.63.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 77.42 – 76.89.
TakeProfit: 82.63.
StopLoss: according to the pattern rules.
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