USCrude – oil
Oil price broke out Target Zone [58.86 – 58.41]. The US session closed the price below. For the consolidation, expect the second closing below the zone at the US session.
If oil middle-term trend reverses downwards, we shall look for sell entries on the correction and the downside target will be at Target Zone 2 [54.36 — 53.91].
Oil price reached Gold Zone [56.76 – 56.53] in the short-term downtrend. The zone has not been broken out, so the price may not further decline.
If the US session closes the price below level 56.53, the next sell…
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