UKOIL formation of preconditions for RECOVERY

Oil, as a benchmark for market sentiment, is in a rollback phase after updating local tops and testing resistance at 76.97. The downtrend channel is not broken and the trend remains relevant. The only positive hint of a subsequent price recovery is that there is no renewal of the downward lows, they rise with highs as well, the formation is broken and they are renewed. The price on Friday closes in the middle of the range, I think there is a possibility that the price will reverse to test the resistance.


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻