USCrude – Oil
This week, oil reached Target Zone 6 [43.90 - 43.55]. After that, a correction started. Within the correction, the key resistance of the trend in [47.21 - 46.86] was tested. The resistance was intact for three days.
A "triangle" pattern was formed near the resistance in the charts of lower time frames. On Thursday, there happened a breakout of the "triangle" downwards, and today we see a continuation of the downtrend.
Short targets from Target Zone are TZ 6 and the minimum of the previous week. I recommend holding short positions until hitting Take Profit.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/weekly-forecast-for-oil-gold-and-eurusd-2020-03-06/?uid=285861726&cid=58534