The oil short-term trend turned down yesterday. The price broke out the trend key support 77.42 – 76.89. Now, the downside target is the lower Target Zone 72.17 – 71.12.
It is relevant to sell on the correction when the price reaches resistance (A) 78.99 – 78.64 or resistance (В) 80.92 – 80.39. To enter a sell trade, one should expect the test of these zones and detect a corresponding pattern. The first downside target will be yesterday’s low.
USCrude trading ideas for today:
- Sell according to the pattern at resistance (А) 78.99 – 78.64.
TakeProfit: 75.20.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (B) 80.92 – 80.39.
TakeProfit: 75.20.
StopLoss: according to the pattern rules.
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