$UKOIL - Set to Hyperinflate
Bullish momentum coming into play on the weekly chart. Hockey stick pattern seen repetitively within rising wedge connecting jan 2016 lows to june 2017 trough trend line. In coming weeks price action may reverse lower towards 49EMA line retesting the $52.69 level just above the descending triangle trend line. Should price action hold above this area, I see price action resuming an upward trajectory later this year. Multiple hockey stick pattern formations with HH's are indicative of renewed interest buying with intentions to hyperinflate price action into the future. We are weeks within this event from happening & I see a first target of $75.00 early into next year.
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