USCrude – oil
Oil is trading in the middle-term uptrend. Traders are now testing the key support at [58.86 – 58.41]. Despite the gap, it is relevant to look for purchases according to the methodology. To enter buy trades, we need a pattern, and the upside target is the high of last week.
We shall sell oil when the trend reverses downwards. This will occur when two US sessions close the price below Target Zone.
Oil short-term trend is downward. Target Zone [59.01 – 58.57] is broken out. Therefore, the main sell target is Gold Zone [56.76 – 56.53].
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