UKOIL approaching pivot, potential for rise | 23 Feb 2022
On the H4, with price moving above the ichimoku cloud, we can expect bullish continuation from our entry at 96.14 in line with 38.2% Fibonacci retracement towards our take ptofit at 100.79 which is a strong resistance and in line with 161.8% Fibonacci extension. Alternatively, price may break entry structure and head for our stop loss, which coincides with the ascending trendline and 50% Fibonacci retracement at 93.84.