Analysis for oil, gold, and EUR/USD for 28.05.2020

USCrude – oil

Target Zone 4 [34.17 — 33.42] is the strong resistance of the oil uptrend this week. As the price approached the zone, the volatility has declined. There is now forming a consolidation range. When the price breaks the consolidation range, it may further break out TZ 4 and reach TZ 5 [41.67 – 40.92].

An alternative scenario suggests the price correction down to the zone of the trend key support [24.47 — 23.57].

The short-term chart signals a correction down in the uptrend. Yesterday, traders were testing Additional Zone [31.22 – 31.00]. There wasn’t a buy pattern….<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>