UKOIL: Bearish Reversal Idea

Bearish Indications

• Resistance Zone at 85.26
• AB=CD where the D point is at 85.93 which indicates a reversal
• Gartley’s XABCD indicates 85.73 Area
• Seasonal Analysis Shows DXY remains Bearish at over 80% in December month


Bullish Indications

• Three White Soldiers
• Significant Support Zone at 0.68329
• Resistance Broken at 0.68629
• Support Zone at 84.23
• Seasonal Analysis shows UKOIL remains Bullish in December Month.

Biased: Short
Entry Short: 84.52 (Fib Level 78.6%)
TP1: 0.68236 (Fib Level 61.8%%)
TP2: 0.68085 (Fib Level 38.2%)
Stop Loss: 86.20
Risk/Reward: 1:1.6

Comment:

As Projected....