Last week, oil came close to the weekly control zone of 58.49-58.06, which makes it possible to fix part of the purchases during its test. The zone test will determine further priority. If the reaction is a sharp decline in the price and the closure of today's trading below the zone, then sales of the instrument will come to the fore.
The downward movement will take place within the accumulation zone, so the target level will be the minimum of last week.
An alternative growth model will be developed if the closing of today's trading occurs above the level of 58.49. This will indicate an exit from the flat and continued growth. The purpose of the upward movement will be around the psychological level of $60. Part of the purchases can be left in case of a continuation of the upward movement.
Daily CZ – daily control zone. A zone formed by important data from the futures market that changes several times a year.
Weekly CZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ – monthly control zone. A zone that reflects the average volatility over the past year.
