Oil reached the Target Zone 105.80 – 104.60 as part of a short-term uptrend. Today, traders are trying to consolidate the price above this zone. If successful, the next target for purchases will be the Gold Zone 111.20 – 110.60.
It is profitable to consider new oil purchases on correction at strong support levels, the Additional Zone 103.69 – 103.39 and the Intermediary Zone 100.69 – 100.09.
To enter sales and reverse the oil trend, traders need to break out the Intermediary Zone downside.
USCrude trading ideas for today:
- Buy according to the pattern in Additional Zone 103.69 – 103.39.
TakeProfit: 106.57.
StopLoss: according to the pattern rules. - Buy according to the pattern in Intermediary Zone 100.69 – 100.09.
TakeProfit: 106.57.
StopLoss: according to the pattern rules.
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