UKOIL

Within the major downtrend in Crude Oil an ascending wedge formed during the rally and broke out below. This shows a tilt on the sea-saw between buyers and sellers.

SUMMARY.

As usual following a breakout, we ascertain the validity of the breakout and join the bears ideally on a lower time frame.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.