Trading Idea on UKOil
Price is currently at a major supply zone, so I'm expecting to short. From this H4 analysis, we have a rising wedge that has formed as price is heading towards the peak of the channel. It is also obvious that the RSI has formed a divergence for over two weeks. In addition, I'm expecting to see a head and shoulder formation, therefore a sell limit at 72.76, Sl 75.63 and take profits at 70.39, 68.75 and 66.15 will be considered
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.