UKOIL - Are the bulls ready?
* Remember to support with LIKE and FOLLOW me for more analysis *
The UKOIL did a Piercing Line pattern today, and if confirmed tomorrow, the price will have the strength to breakout the U$ 22.38 zone, which is an important one, as it served as support and resistance in the recent past.
The stop would be the piercing line’s low, and the target could be around U$ 36 (previous top). Also, there’s a gap that could help to lead the prices up, but we should wait for more information.
Let’s look at the 1H chart:
It seems we have a double bottom here (Adam & Eve type), which was triggered, and the price did find a support at the U$ 20.15 (the peak between the double bottom, serving as both support and resistance now). This is a very good sign.
UKOIL is doing a very technical move here, and it seems the bulls are going to show up.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
The UKOIL did a Piercing Line pattern today, and if confirmed tomorrow, the price will have the strength to breakout the U$ 22.38 zone, which is an important one, as it served as support and resistance in the recent past.
The stop would be the piercing line’s low, and the target could be around U$ 36 (previous top). Also, there’s a gap that could help to lead the prices up, but we should wait for more information.
Let’s look at the 1H chart:
It seems we have a double bottom here (Adam & Eve type), which was triggered, and the price did find a support at the U$ 20.15 (the peak between the double bottom, serving as both support and resistance now). This is a very good sign.
UKOIL is doing a very technical move here, and it seems the bulls are going to show up.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.