UKOIL Watch for reversal from the top
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
Note
Price formed H and S pattern at top, watch for further downside.Note
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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.