TRDVMA

UKOIL (BRENT) Hourly Analysis Update

FX:UKOIL   Crude Oil (Brent)
150 0 0
The prices seem to follow the top triangle formation (refer to chart). We estimate a decisive down turn in near future after the triangle zig-zag formation is exhausted eventually. There could also be a double shoulder H&S formation in the making. We will watch. Note that a decisive breakout of this pattern in the down direction for the UKOIL             , may coincide with the start of another long term USDCAD             up trend.

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