UKOIL - Possible short trade setup

FX:UKOIL   CFDs on Crude Oil (Brent)
We have recently seen a nice rebound in UKOIL             after the massive downturn due this summer from 50 area. As for now the price as has retraced around 61,8% from consolidation high around mid 48 area, which also acts as horizontal resistance around 46 area.

Short term, we should see some support around 43,50. If this level fails, we could very likely retest recent lows around 41 area.

In that matter, trend is your friend and a possbile short trade should be nice.

Trade setup:
Short at current levels (43-44 area) with 1/3 of desired size. Rest if we rebound up to 45,50-46. Stop loss if the price closes above 46. Target should be mid 30's.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out