Gold short-term trend reversed
USCrude – oil
Oil buyers failed to break out the key resistance of the middle-term downtrend [53.98 – 53.67]. Look for sell trades according to the pattern. If the price breaks out the resistance and consolidates above, we shall start buying oil.
The short-term oil trend reversed downwards. The price has broken out Intermediary Zone [53.18 – 53.02] without any resistance at the Asian session today. This suggests that the buyers do not enter trades in the zone.
According to the margin zones methodology, one might look for oil sells on the correction. Good sell prices…
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