UKOIL H4 Potential bearish drop

30 มิ.ย. 2022

On the H4, with price the break of the ichimoku cloud , we have a bearish bias that price will continue to drop from our entry at 106.82 in line with the horizontal swing low resistance to our take profit area at 101.22 in line with the horizontal swing low support. Alternatively, price may reverse off and rise to our stop loss at 112.04 where the 23.6% fibonacci retracement is. Take note we are waiting for the break of our entry area to confirm the bearish momentum.

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