Yesterday, oil continued to trade in an upward correction. As a result, the asset has breached the resistance (A) 68.01 – 67.71. Today, the asset will likely try to test the resistance (B) 69.65 – 69.20. Once this zone is tested, consider short trades within the short-term downtrend. The first bearish target will be 67.18, and the second one will be the September 10 low of 64.74.
If the price breaks through the resistance (B) today, the short-term downtrend will reverse. In this case, consider long trades with the target in the upper Target Zone 74.59 – 73.70.
USCrude trading ideas for today:
Sell at resistance (B) 69.65 – 69.20.
TakeProfit: 67.18, 64.74.
StopLoss: 70.65.
Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Go to Register with LiteForex Platform
Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.
