UKOIL FEB WEEK 5 OUTLOOKG -
Daily - I am still long bias on oil. if it does pullback, I will not get involved in shorts this week. I will see how it plays out. significant zones to look for absorption are
80.10 - 79.43
78.63 - 77.48
Origin -looking weak here too. if price fails to hold above 80.87 - 80.77 here, next level of support comes down to 78.54 - 79.26. but if for some reason oil does pull up from here and is able to hold the zone 82.98 - 82.66 (low probability) then I will look to enter quick long entries.
Daily - I am still long bias on oil. if it does pullback, I will not get involved in shorts this week. I will see how it plays out. significant zones to look for absorption are
80.10 - 79.43
78.63 - 77.48
Origin -looking weak here too. if price fails to hold above 80.87 - 80.77 here, next level of support comes down to 78.54 - 79.26. but if for some reason oil does pull up from here and is able to hold the zone 82.98 - 82.66 (low probability) then I will look to enter quick long entries.
