The oil price is being corrected down, following the price rise last Friday. The market is approaching support (А) 86.31 – 85.98. When this support is tested, I suggest entering new purchases with a target at the high of October 20. When the indicated high is exceeded by the price, the next upside target will be the upper Target Zone 91.50 – 90.51.
If support (A) is broken out, the price will go down to support (B) 84.66 – 84.16. One could enter purchases in the second support zone, as it is the trend border.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 86.31 – 85.98.
TakeProfit: 89.55.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 84.66 – 84.16.
TakeProfit: 89.55.
StopLoss: according to the pattern rules.
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.
