The oil price was testing the resistance 79.83 – 79.27 of the short-term downtrend. The zone was held down, so it is relevant to sell today. To enter new sell trades, one should find a reversal pattern and open a short position with a target at the low of November 28.
An alternative scenario suggests the price break out level 79.83 and consolidates above at the US session. If so, the trend will turn up, and it will be relevant to buy; the upside target will be the upper Target Zone 86.02 – 84.89.
USCrude trading ideas for today:
Sell according to the pattern at resistance (В) 79.83 – 79.27.
TakeProfit: 73.75.
StopLoss: according to the pattern rules.
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