Oil is trading in the correction to a short-term uptrend. Yesterday, traders tested the Additional Zone 80.00 - 79.87. This zone was broken out today. Now the price is rolling back up and testing the broken-out zone as resistance.
I recommend considering oil sales in the zone of 79.87 - 80.46 with a target in the Intermediary Zone 78.72 - 78.46. It would be reasonable to take a part of profits at today's low.
To enter purchases, it is required to break out the resistance zone 80.59 - 80.46. In this case, it will be possible to expect the price to reach level 81.13.
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I recommend considering oil sales in the zone of 79.87 - 80.46 with a target in the Intermediary Zone 78.72 - 78.46. It would be reasonable to take a part of profits at today's low.
To enter purchases, it is required to break out the resistance zone 80.59 - 80.46. In this case, it will be possible to expect the price to reach level 81.13.
Follow us to always know the science of Forex & Comex Trading as well as the latest updates on technical analysis & fundamental analysis- Forex Advice Club.
