Oil is trading in the short-term uptrend. Traders are trying to break out the Target Zone 74.27 – 73.37. If the zone is broken out, the next upside target will be the Gold Zone 76.67 – 76.37.
If the Target Zone is held down, there will start a descending correction. The price could reach support (A) 71.80 – 71.51 or support (В) 70.35 – 69.91 as a part of a correction. When the price reaches either of the support zones, one could enter new purchases according to the pattern with a target at today’s high.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 71.80 – 71.51.
TakeProfit: 74.63.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 70.35 – 69.91.
TakeProfit: 74.63.
StopLoss: according to the pattern rules.
Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.
