The oil price is being corrected up in the short-term downtrend. The market should test resistance (A) 77.47 – 77 14. After the zone is reached, one could enter new sell trades with a target at the low of February 22.
If the price breaks out resistance (A) as a part of the correction, it will reach resistance (B) 79.29 – 78.79. In this case, one could also enter sell trades.
USCrude trading ideas for today:
- Sell according to the pattern at resistance (А) 77.47 – 77.14.
TakeProfit: 73.87.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 79.29 – 78.79.
TakeProfit: 73.87.
StopLoss: according to the pattern rules.
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