The Brent oil (UKOIL) 4H Diagram Technical Analysis shows the following:
The UKOIL price has made a long term decline under the resistance red line. This resistance line is under the KUMO, which means that the UKOIL is bearish in long term. The weekly diagram shows bullish trend and the monthly marginally too. Monthly diagram is likely to follow an symetric...
Yesterday WTI Crude Oil (/CLM4) completed an MACD divergence crossover on the DAILY chart. This signals a start of an intermediate downtrend (Less than 1 Month) for the Oil Futures.
Trade Idea: SHORT /CLM4 at current prices and add more up to $103.45. Stop Loss is at a break of new highs at $104.20. Profit Target is $98 to $96.
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