UKOIL might recover some strenght.

After a strong sell-off , UKOIL show's a strong support and rejection at 50.0 psichologic level.

Now its struggling at 63 zone, if it manages to break and close above it will most likely re-test the 70.0 level which coincide with the 200 SMA .

Any stop loss on this operation must be placed a few pips below the 50.0 level, always with some room, to avoid some "stop loss killers" for the brokers (believe me they happen more often than we can see it)

RSI shows a double botton which is a bullish confluence.



Please notice this is a WEEKLY chart.




This is NOT a trading signal and you should trade based only your personal strategies and knowledge.

Yorum:

So far the weekly candle is closing above the previous ones, bullish sign.

Still, on the beggining of the next week lets take a look on shorter timeframes to see if a long opportunity can be validated

Yorum:

Nothing new to say, price keeps moving sideways,

Only a breakout above previous top with some fundamentals behind would trigger a long position targeting the resistance zones.

Yorum:

Nice breakout, currently overbought on D1 so we might see some consolidation now, still targeting 70 level.

Yorum:

Price struggling right now in this 67 zone, we might see some pullback to 65 zone.