UKOIL bounced from support, potential for more upside!

٢١ يناير ٢٠٢١

Price has just bounced from the 1st support level at 55.64, in line with our 50% Fibonacci retracement and 50% Fibonacci extension, where we could see a further rise from this level towards 1st resistance at 56.60, in line with our 50% Fibonacci extension and horizontal swing high resistance. Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.

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