Analysis for oil, gold, and EUR/USD for 30.03.2020

USCrude – oil

In the long-term timeframe, oil is trading in the middle-term downtrend. The first sell target has been reached, the second downside target is to test Target Zone 2 [18.76 – 18.30]. The trend boundary is in the zone of [25.80 — 25.24].

The short-term trend is also down. Intermediary Zone [22.06 – 21.78] was broken out last Friday. Now, the target is Target Zone [19.26 – 18.70]. 

Enter short trades on the correction into the trend key resistance zone [22.72 – 22.44]. There must be a pattern before you enter any trades.

Alternative scenario: Intermediary Zone breakout…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>