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theselfishtrader theselfishtrader UKOIL, 240, Long ,
UKOIL: BRENT - Long Opportunity
25 0 5
UKOIL, 240 Long
BRENT - Long Opportunity

A huge bullish candle on 4H suggests strength in this market. The small bearish candle is probably profit taking and consolidation. If price should break above this candle I will be taking a long position and targeting the top of the range around the $57.40 area. A more conservative target is the $56 level which has confluence with the 61.8% Fibonacci level.

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