UKOIL situation analysis
Hi All,
UKOIL will make a judgement next week about its path. Two scenarios are possible
Long: After the impulse, correction is completed by %61.8 level and new impulse should be expected. but i think it will not exceed previous impulse's top point because DXY seems to grow which will effect UKOIL in negative way. So after making a double top, i expect to fall.
Short: As seen on graph, there is negative divergence on RSI, not supporting the price.And also price is moving a rising channel but the third movement could not be completed(not enough momentum) so i expect it to fall.
This week we will see all, watch for opportunities. I think it will fall.
This is not a financial advice, take your own investing decisions.
UKOIL will make a judgement next week about its path. Two scenarios are possible
Long: After the impulse, correction is completed by %61.8 level and new impulse should be expected. but i think it will not exceed previous impulse's top point because DXY seems to grow which will effect UKOIL in negative way. So after making a double top, i expect to fall.
Short: As seen on graph, there is negative divergence on RSI, not supporting the price.And also price is moving a rising channel but the third movement could not be completed(not enough momentum) so i expect it to fall.
This week we will see all, watch for opportunities. I think it will fall.
This is not a financial advice, take your own investing decisions.
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