The short-term oil trend reversed up last Friday. Now the growth target is the upper Target Zone 110.30 – 109.47. Today, the oil price fell at the market opening and tested the Additional Zone 105.49 – 105.28. The AZ serves as a strong support in which it is possible to consider new purchases with the first target at June 24 high.
If the Additional Zone is broken out downside during today’s trading session and the price consolidates lower, the correction will continue with the target in the Intermediary Zone 103.40 – 102.99. It is also possible to look for purchases in the IZ.
USCrude trading ideas for today:
- Buy according to the pattern in Aditional Zone 105.49 – 105.28.
TakeProfit: 107.51.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 103.40 – 102.99.
TakeProfit: 107.51.
StopLoss: according to the pattern rules.
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