UKOIL bounced off 43.46 where it could potentially rise further to 43.89. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
UKOIL reversed off its resistance at 43.18 where it could potentially drop further to 42.70. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
UKOIL reversed off its intermediate resistance at 42.90 where it could potentially drop further to 42.09. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Update on below idea: Think an ABC completed at 1.618 ($41,15) in an ending diagonal and now nearing the start of wave 3. This idea is invalid above $41,13 and would start confirmation below $39,95
UKOIL to reverse from its downside confirmation at 42.73 where it could potentially drop further to 42.13. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
UKOIL reversed off its intermediate resistance at 42.50 where it could potentially drop further to 41.70. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
UKOIL bounced off intermediate support at 43.05 where it could potentially rise further to 43.91. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
UKOIL reversed off its intermediate resistance at 42.66 where it could potentially drop further to 42.07. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
On DAILY: CRUDE OIL is sitting around a strong resistance zone in green and filling the GAP so we will be looking for objective sell setups on lower timeframes. on M30: CRUDE OIL is testing a supply zone in green and forming a channel in red (not valid yet) so we are waiting for a new swing to form around our lower red trendline to consider it objective and sell...
Update on below idea: Still believe oil is in a corrective pattern; either WXYXZ up to $41 area, or WXY is already completed at $40,58 and we're in wave 2 of an impulsive move down already. A break above $40,58 invalidates the wave 2 idea, a break above $41,62 invalidates the WXYXZ idea.
UKOIL to reverse from its downside confirmation at 41.74 where it could potentially drop further to 40.98. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
UKOIL reversed off its resistance at 41.76 where it could potentially drop further to 40.54. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Update on below idea: Oil now hit the .618 level and what could be an ABC completed...is oil on the brink of collapse?
UKOIL reversed off its intermediate resistance at 41.44 where it could potentially drop further to 40.54. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
UKOIL reversed off its intermediate resistance at 40.48 where it could potentially drop further to 39.47. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
To me it looks like oil is in the early stages of C or wave 3, in addition there appears to be a head & shoulder formation after price hit the 0.5 level. Oil could hit the 1:1 extension at $34,89 to complete a C wave and bounce up to a new high above $41,63, or push down much further to 1.618 extension at $32,12 to complete a wave 3 of deeper C.