The oil price broke through the low of April 24 yesterday. The short-term downtrend continues.
The price is being corrected now. The correction target is resistance (А) 79.65 – 79.36. When the first resistance is reached, one could enter new sell trades in the zone with a target at yesterday’s low.
The trend border is now in the zone of 81.24 – 80.81. If the price tests this zone following the correction, one could also enter sell trades there. The target is the low of April 25.
USCrude trading ideas for today:
- Sell according to the pattern at resistance (А) 79.65 – 79.36.
TakeProfit: 76.50.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 81.24 – 80.81.
TakeProfit: 76.50.
StopLoss: according to the pattern rules.
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