UKOIL bounced from support, potential upside to rise!
Price pushed higher overnight and is approaching daily swing high on 5th May. With the moving average indicator showing support on the current entry level, we expect a medium probability bullish scenario where price could possibly push higher towards 69.73. Failure to hold above 68.34 support could see price swing the other way towards next support at 67.80.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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