Oil quotes rolled down below the resistance Target Zone [55.86 – 55.43]. The downtrend continues, so, it is relevant to enter sell trades with the target at 51.18, Target Zone 3 [49.86 – 49.41]. To sell, we need a 1-2-3 pattern or other sell pattern.
Sellers were again testing the key support to the short-term uptrend. It has not been broken out.
There isn’t a sell pattern either, monitor the situation. There should be either a buy signal or Intermediary Zone breakout and the trend reversal.
If a downtrend starts, the sell target for short-term trades will be…
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