Welcome to Extreme Investor Network, where we provide you with exclusive insights and analysis on the stock market, trading, and everything related to Wall Street. Today, let’s take a closer look at UKOIL, which is currently trading at $79.79, up 0.33% for the day.
When examining the 4-hour chart for UKOIL, we can identify several key levels to keep an eye on. The pivot point is set at $80.19, with immediate resistance levels at $80.91, $81.62, and $82.66. On the support side, immediate support is at $79.18, followed by $78.34 and $77.19. Additionally, technical indicators such as the 50-day Exponential Moving Average (EMA) at $80.01 and the 200-day EMA at $82.59 play a crucial role in assessing the market trend.
The proximity of the 50 EMA to the current price indicates potential near-term stability, while the 200 EMA suggests significant resistance ahead. As of now, UKOIL is bearish below $80.19, but a break above this level could potentially shift the trend to bullish.
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