The oil traders are trying to turn the oil short-term trend up via the breakout of the key resistance 97.13 – 96.70. If the US session closes the price above the Intermediary Zone, the trend will reverse up. If so, it will be relevant to enter long positions with a target in the upper Target Zone 101.86 – 101.00.
If the price returns to a level below 96.70, expect a sell pattern. Once there is a pattern to sell, it will be relevant to sell oil with a target at the low of July 25.
USCrude trading ideas for today:
Sell according to the pattern in the Intermediary Zone 97.13 – 96.70.
StopLoss: according to the pattern rules.