USCrude – oil
Oil middle-term downtrend continues. Yesterday, buyers broke through Target Zone 2 [ 53.58 – 53.21] and consolidated below at the first US session. Today, we shall see if they manage to close the price below at the second US session. If they do, the next downside target will be in Target Zone 3 [49.93 — 49.56].
The short-term oil downtrend also continues. Traders are testing Intermediary Zone [52.47 – 52.29]. I recommend looking for sell entries in the zone. For entering a sell trade we need a pattern as usual.
IZ is the key resistance in the…
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