Yesterday, as a part of the short-term uptrend, the Target Zone 72.89 – 72.38 was reached. After reaching the TZ, prices fell sharply. They first tested the trend key support 70.18 – 69.93 and then broke it out. After this, the trend reversed down again.
Today, since the market’s opening, the price has been corrected in the zone of good sell prices 71.56 – 69.93. Then the price dropped down from this zone and reached the lower Target Zone 67.63 – 67.12.
The further development of the trend will depend on the ability of the bears to close the trading session below the Target Zone. If successful, the next target for sales will be the Gold Zone 65.08 – 64.83. Otherwise, the price will go into a correction to the Additional Zone 68.30 – 68.17. If the AZ is broken out upside, traders will test the Intermediary Zone 69.70 – 69.45.
USCrude trading ideas for today:
- Sell according to the pattern in Additional Zone 68.30 – 68.17.
- TakeProfit: 67.12.
- StopLoss: according to the pattern rules.
- Sell according to the pattern in Intermediary Zone 69.70 – 69.45.
- TakeProfit: 67.12.
- StopLoss: according to the pattern rules.
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