70.7 acts as an important level today & if price stays above this level then we expect it to hit our target profit at 71.75.
If price breaks below 70.7 then it should hit 69.7.
Below is our recommendation;
Trade 1 (Risk 0.5% of your account size);
Buy USOil @ 71.00
Stop Loss @ 70.7
Take Profit @ 71.75
Trade 2 (Risk 1% of your account size);
Sell Stop USOil @ 70.7
Stop Loss @ 71
Take Profit @ 69.7
*Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.