This week, oil has got into the accumulation area a bit higher than the broken Target Zone of [55.86 – 55.43]. In other words, the accumulation zone is a relative flat.
According to margin zones, the medium-term trend is ascending. The BUY target is in the Target Zone 2 [60.21 – 59.78]. To start buying, a pattern is required. And for a pattern to appear, either a false breakout of last week’s local low (see screen shot) or correction in the area of the key support of [53.82 – 53.42] is required.
For eventual sales during correction, traders…
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