As part of a short-term oil downtrend yesterday, the price reached the Gold Zone 97.82 – 97.22. After that, the price corrected and tested the trend border of 103.59 – 103.05.
Today, traders are trying to break out the key resistance and consolidate the price higher. If successful, the trend will reverse up. Thus, from tomorrow look for oil purchases with the target in the upper Target Zone 109.50 – 108.43.
However, when the price returns to the resistance level of 103.05, a sell pattern will form. In this case, open short trades within the current trend with the target at yesterday’s low.
USCrude trading ideas for today:
Sell according to the pattern in Intermediary Zone 103.59 – 103.05.
StopLoss: according to the pattern rules.
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