USCrude – oil
Oil price is being corrected up in the middle-term downtrend. After the resistance zone [58.73 – 56.86] is tested, look for sell trades with the target to update the low of last week and reach Target Zone 2 [53.58 – 53.21].
Let see the shorter timeframe chart. The short-term trend is still downward. Traders were testing Intermediary Zone [56.72 – 56.54] yesterday. The zone hasn’t been broken through, so it is relevant to open short positions.
It will be relevant to sell when there is a corresponding pattern and Additional Zone [55.99 – 55.90] breakout. If there is the needed signal, the downside target will be 54.77.
Alternative scenario: IZ breakout and consolidation above. If so, the local trend will reverse upwards and it will be relevant to enter buy trades.
USCrude Trading decisions for today:
Sell according to the pattern from Intermediary Zone [56.72 – 56.54]. TakeProfit: 54.77. StopLoss: according to the pattern rules.
Hey there @tempip, welcome to STEEM. If you join @schoolofminnows, you can receive votes for free.
1. Your post will appear in post-promotion on the discord.
2. Your posts will also get featured on the school of minnows account on steem
https://steemit.com/@schoolofminnows
3. You get votes from other members.
4. The whole thing is FREE.
To join follow this link:
https://steem.host/connect/steempunks