Analysis for oil, gold, and EUR/USD for 21.04.2020

USCrude – oil

Oil is trading in the middle-term downtrend. Sellers were breaking through the local lows, hitting fresh all-time lows yesterday. The price, however, hasn’t been yet consolidated below Target Zone 2 [17.69 – 17.13].

If the US session closes below 17.13 today, the next downside target will be in Target Zone 3 [12.09 – 11.53]. In the meanwhile, there could start a correction in the trend. Aggressive traders might look for purchases according to patterns.

The short-term trend is down. The price broke out the support in Target Zone 2 [17.69 – 17.13] and reached Gold Zone 2…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>