Oil corrects lower in a medium-term uptrend. The first support level [55.86 – 55.43] has been broken in a correction. The correction target may be testing the second support key level at [54.06 – 53.66].
Once the price has reached Target Zone, search for long positions according to the pattern with a target at this week’s high and in Target Zone 2 [59.83 – 59.43].
Yesterday, the quotes corrected in the key resistance area of the short-term downtrend [56.96 – 56.76]. Today, I suggest looking for short positions according to the pattern with the aim of updating yesterday’s low…
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