USCrude – oil
Oil price broke through the local high in the longer timeframe, and another US session closed above Target Zone [55.86 – 55.43]. Therefore, oil is now trading in the middle-term uptrend. It is now relevant to look for purchases on the correction with the target at Target Zone 2 [60.21 — 59.78].
The local short-term trend has also reversed up via Intermediary Zone [56.04 – 55.82] breakout. The previous scenario to sell hasn’t worked out.
For this week, the target is Target Zone [58.43 – 58.00]. Look for buy entries either in Additional Zone [56.28 – 56.17]…
Read full author’s opinion and review in blog of #LiteForex