UKOIL is trading at $88.94, showing a slight decrease of 0.33%. Positioned near the pivot point of $88.75, it navigates through the day’s market fluctuations. The oil faces resistance at $89.35, $89.91, and $90.65, indicating possible price ceilings.
On the downside, support is observed at $88.08, $87.31, and $86.52, outlining areas where the price may stabilize. The 50-day and 200-day EMAs, at $87.40 and $85.58 respectively, coupled with an upward channel, suggest a bullish trend for UKOIL above $88.75. However, falling below this pivot could trigger a bearish shift in the market.
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