#UKOIL (Intraday perspective: Downside potential below 75.66) | IC Markets

#UKOIL (Intraday perspective: Downside potential below 75.66)
Price broke below ascending trendline support (now resistance). Price is also approaching the key resistance zone where we also see Fibonacci confluence. As such we see a low probability bearish scenario where price is currently facing bearish pressure below 75.66 resistance. With possible downside target at 74.50. Otherwise, failure to hold below 75.66 will see price push higher towards 76.21.