DeGRAM | UKOIL breakout of the channel

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UKOIL broke through the rising channel , which was only a pullback in terms of the global bearish trend .

The price tested, broke, and closed below the psychological level of $80.00.

The oil market could retest the resistance before dropping again, even though we can see a big red candle that indicates the start of a downtrend.

We anticipate a bearish continuation trade.



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