The short-term oil uptrend continued yesterday. As a result, August 25 high was updated. The next target for purchases is the Gold Zone 98.70 – 98.27.
It is profitable to consider new oil purchases on correction at strong support levels, an Additional Zone 94.81 – 94.60 and an Intermediary Zone 92.66 – 92.23. To open a trade, wait for the test of the zone, then look for a pattern and open a trade according to the pattern with the first target at August 29 high.
Oil sales remain unprofitable.
USCrude trading ideas for today:
- Buy according to the pattern in Additional Zone 94.81 – 94.60.
TakeProfit: 96.91.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 92.66 – 92.23.
TakeProfit: 96.91.
StopLoss: according to the pattern rules.
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