The short-term oil trend reversed down yesterday. As a result, the Intermediary Zone 109.82 – 109.22 was broken out. Then the traders reached the Target Zone 103.82 – 102.62. The TZ is being held by buyers, so don’t expect a further price decline yet.
If the price consolidates below level 102.62, then the next target for sales will be the Gold Zone 97.82 – 97.22.
At the moment the price is being corrected and the Additional Zone 104.89 – 104.63 is being tested. The AZ serves as a strong resistance level. Therefore, consider sales according to the pattern with a target at yesterday’s low.
USCrude trading ideas for today:
- Sell according to the pattern in Additional Zone 104.89 – 104.63.
TakeProfit: 102.00.
StopLoss: according to the pattern rules. - Sell according to the pattern in Intermediary Zone 107.85 – 107.31.
TakeProfit: 102.00.
StopLoss: according to the pattern rules.
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