Oil is being corrected up in the short-term downtrend. The correction target is to test resistance (A) 79.86 – 79.57. When the resistance is tested, one could enter new sell trades according to the pattern with a target at low of April 24.
If resistance (A) is broken out, the price will reach resistance (B) 81.46 – 81.02. One could also enter sell trades in resistance (B), as it is the border of the short-term downtrend.
USCrude trading ideas for today:
- Sell according to the pattern at resistance (А) 79.86 – 79.57.
TakeProfit: 76.75.
StopLoss: according to the pattern rules. - Sell according to the pattern at resistance (В) 81.46 – 81.02.
TakeProfit: 76.75.
StopLoss: according to the pattern rules.
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