USCrude – oil
Oil is trading in the middle-term uptrend. To buy, we need a pattern that hasn’t yet appeared in the long-term timeframe chart. Buy target is Target Zone 2 [58.13 — 57.77].
It is clear from the shorter timeframe that the short-term uptrend continues, the upside target is Target Zone [57.75 - 57.39]. Yesterday, the price continued rising and broke through the local high. Today, oil price is approaching the trend key support [55.34 – 55.16].
To enter buy trades, I recommend expecting the test of Intermediary Zone and look for a reversal pattern. You should buy oil...
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