UKOIL is trading at $84.17, up by 0.33% so far. The pivot at $83.92 is pivotal; breaching it could lead to significant movements. Resistance is observed at $84.94, $85.65, and $86.43, while support lies at $83.24, $82.28, and $81.06.
Technical indicators, particularly the 50-day and 200-day Exponential Moving Averages (EMAs), recorded at $82.75 and $81.84 respectively, underscore a bullish trend. These metrics indicate a market with the momentum for further gains, provided it sustains above the crucial $83.92 benchmark.
However, a dip below $83.92 may prompt a swift selling response. Thus, UKOIL’s trajectory is bullish above $83.92, with a potential shift if it descends past this threshold.
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