KeisaritJokinen
Short

UKOIL SHORT, JUDGING WITH RSI9 AND BOLLINGER BANDS

TVC:UKOIL   CFDs on Brent Crude Oil
Hello lads!

It's time for a new UKOIL analysis!

As we can see RSI9 is +80 in one day chart which means UKOIL is clearly over bought. Before I'm hopping to any conclusion instantly I always double check if there is more notable things. This time (not available in the chart, sadly) ADX gives 30~ ish which means UKOIL is on strong trend at the moment but judging from the chart there is a reversal going on.
I personally think that we will see oil criss-crossing between bollinger band's EMA line and bottom line but it will end up in downtrend soon. Keep an eye on this! :)
And guys, hit that follow button!

-JJ-
Comment: Correction:

I see UKOIL reversing but criss-crossing between bollinger band's upper and med line (ema). Not bottom line! My bad!
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