I see symmetrical triangle formation, which has broken to upside. However there's huge resistance at $43.67. Break and closing above the resistance would be give a good confirmation its to the upside. And also bollenger band is contracting which would only mean one thing.
Even if the $43.67 holds and breaks down to downside, im expecting to bounce back up at $42.90.
What do you guys think?
Even if the $43.67 holds and breaks down to downside, im expecting to bounce back up at $42.90.
What do you guys think?
Trade closed manually:
Clearly it brokeout to the downside. UKOIL has been really wired last few weeks. Very difficult entries!