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Ukoilshort

Rejection of major level - bearishNew to the commodities but it's something I want to focus on more. Just sharing a very short view here: We see a clear rejection of the 30> levels on UK Oil. This is specifically visible on the daily chart, with a bearish 2-bar reversal. This level got rejected, we are in clear downtrend looking at the moving averages, and we closed below 30. Now we are hovering in high 29 area awaiting price action. We see a clear broadening falling wedge, where downside will be tested in next two weeks. Note the 30 level is also the support level of January 2016. The 30 level has been clearly broken last month, tested again, and rejected.
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by pptw
11
UKOIL technicaly based forecast 📌Short intro: I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas 💡 UKOIL technicaly based idea, technicaly indicators showing we can expect higher bearish market continuation, we can see good bearish candels formation, expecting to see push in price till bottom trend line . 📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment! Thanks on supporting! All best, good luck!
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by UnknownUnicorn3983388
2