UKOIL Watch for reversal from the top

12 Eki 2021

Hi traders:

Been very busy with other sessions but do find time in between to do some trade analysis and forecast :)

Here on UKOIL, we can see a nice higher time frame structure in the making.

With a few swing highs and lows, signaling a potential completion of this structure.

The latest development shows us an ascending channel, correcting the price up within the HTF structure, good sign of a possible reversal price action.

What I would do is wait patiently and watch for a confirmation bearish impulse down, follow by continuation correction to look for entry down to the lows.

thank you

3 Kas 2021

Not

Price formed H and S pattern at top, watch for further downside.

22 Kas 2021

Not