Gann Box
Monthly View On UKOIL Oil is approaching a potential longterm demand zone as shown in the chart. This chart is squared to the highest selling price of UKOIL, the levels of 1/8ths and 1/3rds are also derived from it. The bearishness is still very much present in this market but usually the best time for longterm accumulation comes with a lot of fear . The next 500 ticks of downside across the oil and oil product futures curve may provide a good longterm reversal trade on energy. Staying tuned for further tells.
CLM2019 Going For 50% Discount From Its Top PriceOil has been selling off violently in light of it being a highly politicised commodity. CLM2019 first saw a 1/3 decline from its recent top value, where it found some support and managed to pull back to around 1/4 discount point from its recent top selling price. Currently, it has broken lower than the 1/3 discount price and is seemingly going for the important 1/2 mid point value some 800 ticks below.