UKOIL, H4 Potential for a bullish breakout
With price moving within our ascending channel and above the ichimoku cloud which is indicating bullish pressure, we are bias that price will rise to our take profit where the 61.8% Fibonacci projection and horizontal swing high resistance is from our entry of 121.58 in line with the 78.6% Fibonacci retracement area. Alternatively, price may head to our stop loss at 119.11 in line with the 23.6% Fibonacci retracement and horizontal swing low support. Our analysis will only be confirm if price manages to break the resistance at 121.58 where our entry is.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.