UKOIL is trading at $90.07, registering a modest decline of 0.09%. The technical analysis on the four-hour chart positions the pivot point at $89.76, which currently supports a mild bullish outlook if sustained. Immediate resistance levels are identified at $90.92, $91.83, and $92.89. A breakthrough above these could signal stronger bullish momentum.
Conversely, support levels are marked at $88.78, $87.64, and $86.37. Breaching these could lead to increased selling pressure. The 50-Day Exponential Moving Average (EMA) closely tracks the pivot at $89.72, while the 200-Day EMA at $86.54 provides additional foundational support.
Overall, the market posture for UKOIL is cautiously optimistic above $89.76, but vulnerability increases if prices fall below this critical juncture.
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