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TechnicallyTrading TechnicallyTrading UKOIL, D, Short ,
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UKOIL, D Short

Simple analysis, still in a bearish trend, counter trend line break, retracement to 50% fib + mijor daily resistance at £50.47 + ctl retest + 50 ema resistance + tweezer tops price action led us into the C leg of the fib. Expecting £42.46 then possibly new lows at $40 a barrel. We haven't seen price this low since the end of the 2008 market crash!!

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