UKOIL marginally increased by 0.03%, trading at $87.20. This subtle uptick reflects the market’s cautious optimism amidst current dynamics. With a pivotal point at $86.97, the asset’s immediate resistance and support levels are distinctly outlined.
Resistance is anticipated at $87.75, $88.42, and $89.06, indicating potential thresholds for upward movement. Support, on the other hand, is found at $86.44, $85.60, and $84.93, marking critical zones where declines may find a floor.
The technical stance is reinforced by the 50-Day and 200-Day Exponential Moving Averages (EMAs) at $85.78 and $83.74, respectively, underscoring a bullish sentiment above the $86.97 mark.
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