UKOILSPOT in on a bearish momentum | 21 Sept 2021

UKOILSPOT is on a bearish momentum and is approaching our pivot and entry at 74.21 in line with 50% Fibonacci retracement and bearish trendline . Price could potentially bounce off and dip to our area of take profit at 72.73 in line between 161.8% extension and 61.8% retracement . MacD and Ichimoku clouds are supporting our bearish bias. Alternatively, our stop loss is placed at 78.6% Fibonacci extension .

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