Gold is trading under the key resistance of the middle-term downtrend
USCrude – oil
Oil is still trading in the middle-term downtrend. Sell target is Target Zone 3 [49.86 – 49.41]. Look for sell entries according to the pattern in the key resistance of the trend.
Oil short-term trend is also downward. Intermediary Zone [53.55 – 53.33] was again tested yesterday. Sell trades entered according to the 1-2-3 pattern were exited with the stop loss, but the price wasn’t consolidated above the local high. Therefore, that was a false breakout, which is a sell signal.
For today, I recommend holding…
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