DeGRAM | UKOIL short opportunityUKOIL has attempted to break through the resistance zone roughly at $100 - 99 price level.
Price action created double top and failed make a new high.
We might see a sell off from psychological level of 100$.
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Ukoilidea
DeGRAM | UKOIL short at confluent zoneUKOIL is pulling back to the resistance zone after making a shallow new low.
This indicates that we might see a deeper retracement.
We are considering selling at the confluent zone of 100-102, which was tested multiple times before.
Look left, the structure leaves clues.
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DeGRAM | UKOIL short opportunityUKOIL has made lower lows, indicating a trend shift.
Typically, price action after a sell off consolidates.
If the price returns to the 110 $resistance zone, we can look for a shorting opportunity.
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DeGRAM | UKOIL short opportunityUKOIL is gradually approaching the 114.50-115.00 resistance zone.
On a global scale, UKOIL is moving sideways. There is no clear trend.
We already can see two rejections of the zone.
A false break of the resistance would be ideal moment for shorting.
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