The oil price is being corrected down in the short-term uptrend. The correction target is the test of support (A) 71.49 – 71.20. When the price reaches the support zone, one could enter a new buy trade with a target at yesterday’s high.
If yesterday’s high is broken through, the next upside target will be the Gold Zone 76.67 – 76.37.
If the correction continues, and the price breaks out support (A), it should reach support (B) 70.04 – 69.60. Support (B) is the trend border, and when the price reaches it, one could also enter a purchase.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 71.49 – 71.20.
TakeProfit: 74.30.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 70.04 – 69.60.
TakeProfit: 74.30.
StopLoss: according to the pattern rules.
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