The short-term downtrend in the oil price has witnessed a corrective move upwards. Currently testing resistance (B) at 73.40 - 72.91, which marks the trend border, new sell trades can be considered in this resistance zone with a target in the Target Zone 69.70 - 68.71.
Trading Ideas for USCrude Today:
Sell Signal: Look for patterns at resistance (B) 73.40 - 72.91.
TakeProfit: Target Zone 69.70 - 68.71.
StopLoss: Follow pattern rules.
If resistance (B) is convincingly breached and the price consolidates above, a short-term trend reversal is probable. In such a scenario, buying opportunities may arise with a target in the upper Target Zone 78.85 - 77.86.
Trading Ideas for USCrude Today:
Sell Signal: Look for patterns at resistance (B) 73.40 - 72.91.
TakeProfit: Target Zone 69.70 - 68.71.
StopLoss: Follow pattern rules.
If resistance (B) is convincingly breached and the price consolidates above, a short-term trend reversal is probable. In such a scenario, buying opportunities may arise with a target in the upper Target Zone 78.85 - 77.86.