The oil market's short-term uptrend remains intact, with yesterday seeing the formation of a bullish pattern. Looking ahead, today presents an opportunity to consider long trades amidst a potential downward correction. The initial target for these purchases is set at the high reached on March 1st. Should the price sustain consolidation above this level, the next target zone to watch out for lies between 82.34 and 81.35.
However, it's crucial to be mindful of the trend border, marked between 75.36 and 74.87. As long as the price maintains its position above this zone, it suggests a favorable environment for purchasing opportunities. This strategic approach aligns with the goal of capitalizing on the ongoing uptrend in the oil market while effectively managing risks associated with potential price fluctuations.
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