DeGRAM | UKOIL short opportunityUKOIL is trading in the descending channel.
The market is heading to confluence zoen where there are resistance and global trendline.
The price action has bounced off the trendline several times before.
If the resistance level rejects the price, then we can look for selling opportunities.
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Ukoilidea
DeGRAM | UKOIL short opportunityUKOIL is trading in the descending channel and it made lower lows as we predicted last week.
The market broke and closed below the support level , which became a resistance.
Price action bounced off from the trendline.
If the resistance level rejects the price, then we can look for selling opportunities.
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DeGRAM | UKOIL short opportunityUKOIL made lower lows as we predicted last week.
The market broke and closed below the support level , which became a resistance.
Price action's pulling back to it.
If the level rejects the price and breaks through the range, then we can look for selling opportunities.
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DeGRAM | UKOIL short opportunityUKOIL made lower lows as we predicted last week.
The market broke and closed below the support level , which became a resistance.
Price action pulled back to it and formed a range.
If the level rejects the price and breaks through the range, then we can look for selling opportunities.
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DeGRAM | UKOIL short opportunityUKOIL made lower lows as we predicted last week.
The market broke and closed below the support level, which became a resistance.
Price action pulled back to it. If the level rejects the price, then we can look for selling opportunities.
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DeGRAM | UKOIL short opportunityUKOIL is bearish on 4H timeframe.
Price action is consolidating between 104$ - 92$ price points.
If price rejects the level by creating a false break then we can look for shorting opportunity.
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DeGRAM | UKOIL short opportunityUKOIL has attempted to break through the resistance zone roughly at $100 - 99 price level.
Price action created double top and failed make a new high.
We might see a sell off from psychological level of 100$.
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DeGRAM | UKOIL short at confluent zoneUKOIL is pulling back to the resistance zone after making a shallow new low.
This indicates that we might see a deeper retracement.
We are considering selling at the confluent zone of 100-102, which was tested multiple times before.
Look left, the structure leaves clues.
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DeGRAM | UKOIL short opportunityUKOIL has made lower lows, indicating a trend shift.
Typically, price action after a sell off consolidates.
If the price returns to the 110 $resistance zone, we can look for a shorting opportunity.
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DeGRAM | UKOIL short opportunityUKOIL is gradually approaching the 114.50-115.00 resistance zone.
On a global scale, UKOIL is moving sideways. There is no clear trend.
We already can see two rejections of the zone.
A false break of the resistance would be ideal moment for shorting.
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