UKOIL could potentially be trading in a rising wedge where if it breaks past its first support at 73.25 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support), it could trigger a move downwards to its next support at 70.95 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).
Stochastic (21, 5, 3) is approaching its resistance at 98% where a potential reversal may occur.
Stochastic (21, 5, 3) is approaching its resistance at 98% where a potential reversal may occur.
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