On Friday morning, oil remains under pressure. The price is testing the lower Target Zone 68.85 – 67.86. If the asset pierces this zone, the next bearish target will be the Gold Zone 66.25 – 65.99. If bulls manage to keep the price above the Target Zone, a correction will unfold.
If the correction develops, the asset will likely climb to the resistance (A) 71.21 – 70.95. Once this zone is tested, one may consider short trades with the first target of 69.78. If the price breaks through the resistance (A) today, the correction will continue to the trend’s boundary 72.64 – 72.25. Consider short trades in this zone.
USCrude trading ideas for today:
Sell at resistance (A) 71.21 – 70.95.
TakeProfit: 69.78, 68.35.
StopLoss: 71.71.
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