So, basically with naked eye, one can see Bearish Divergence on UKOIL daily chart. This signal is pretty strong and occurring on RSI indicator. I opened short till 0.5 Fib level, with stop loss just above yesterday's price.
Price around 37$ is support level, if it gets defended from that point, UKOIL probably won't decline further.
Keep your eyes on Brent, as corona virus is evolving and we may see more price actions soon.
Price around 37$ is support level, if it gets defended from that point, UKOIL probably won't decline further.
Keep your eyes on Brent, as corona virus is evolving and we may see more price actions soon.
Trade closed: stop reached:
Looks like it was fake breakout, as price came back to it's previous state.