olepederk

UKOIL on 11th of February and two weeks ahead

Long
FX:UKOIL   CFDs on Crude Oil (Brent)

Oil is continuing to follow the pattern of the March 2015 movement. The Green lines here representing a perfect clone of the trend line from the low of 13th of January 2015 all the way to June 6th . Which this run from January 20th 2016 has held up amazingly similar. You can also see the H&S pattern from that time in 2015 being perfectly alike the 2016 H&S pattern.

But don't mistake this bullish area of being the start of a Bull period. UKOil is still very bearish and will not move up above 41 in the next month. Where as I believe the high will be between 37-39.

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