UKOIL

UKOIL (brent) is a commodity that is at a constant change however notifying the changes are a crucial part. As you can see pivot points have been put in to place to record the reversals from sell to buy and buy to sell, the moving average and the average true range may show a sign of a bearish reversal. However I do believe that the 5th impulse wave from the Elliot wave has not been yet completed, the trend seems to look like it will carry on in the bull market for now with the help of the regression trend, whereas the trend will hit a point that will cause a reversal entering the bear market. The trade will be active if UKOIL (brent) has reached the trends potential around (47.52). Therefore I do believe this is a short term approach for traders.

Current point: 47.16
Opening point: 47.52

(Exit & profit targets will be active if the trend hits the 'x' mark)

Trade active:

Exit Point: 48.32
Profit target: 46.65