UKOIL probably finished its decline, slightly rolling away from the lower border of the white flat channel and should at least go into a rebound, and in case of a breakdown with the retest of the upper boundary of the turquoise channel, which is the divide between the medium-term short and long, continue to rise to 91.
The loss of support of 61.6 and its bottom-out test will confirm a continued decline with targets of 50.6 and 41.4, confirming the development of wave C from the highways of this year.
On the hourly timeframe, it is possible to reach the lower limit of the signal channel 61.16. Holding support and returning above support on the daily basis will give a buy signal with a stop below the puncture point. The breakdown of support will signal the development of a 3-wave decline with targets on the daily timeframe.
The loss of support of 61.6 and its bottom-out test will confirm a continued decline with targets of 50.6 and 41.4, confirming the development of wave C from the highways of this year.
On the hourly timeframe, it is possible to reach the lower limit of the signal channel 61.16. Holding support and returning above support on the daily basis will give a buy signal with a stop below the puncture point. The breakdown of support will signal the development of a 3-wave decline with targets on the daily timeframe.