UKOil short term bias (Counter trend) looks bearish
Updated
**Monthly Chart**
Last month's candle closed bullish indicating a continuous uptrend move at least to the monthly MC of Oct 2023. This month candle opened near the high of the previous candle and resumed higher.
**Weekly Chart**
Last week's candle closed bullish, suggesting a continuation of the bullish move at least toward testing the previous MC candle around the 95 level. However, short-term bias (counter trend) is bearish if the price is unable to sustain the move higher and start reversing.
**Daily Chart**
Short-term counter trend bias is bearish at the break of key reversal near the liquidity pool (Supply Zone) at least to test 88.00 level before it continues moving higher.
Last month's candle closed bullish indicating a continuous uptrend move at least to the monthly MC of Oct 2023. This month candle opened near the high of the previous candle and resumed higher.
**Weekly Chart**
Last week's candle closed bullish, suggesting a continuation of the bullish move at least toward testing the previous MC candle around the 95 level. However, short-term bias (counter trend) is bearish if the price is unable to sustain the move higher and start reversing.
**Daily Chart**
Short-term counter trend bias is bearish at the break of key reversal near the liquidity pool (Supply Zone) at least to test 88.00 level before it continues moving higher.
Trade closed: target reached
Now the price is about to reach the target around 88.00 level. Then I will be looking for buy setup around 88.00 and 86.00 levels.
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