UKOIL (Brent Crude)

UKOIL (Brent Crude) has recently tested a strong support level at $73.80, where buying pressure has prevented further declines. This level has historically acted as a significant price floor, indicating a potential reversal or continuation of bullish momentum.

Bullish Scenario:
As long as UKOIL remains above $73.80, we can expect an upward move toward the next resistance levels.
The first key resistance is at $74.70, a level where sellers have previously shown interest.
If price action remains strong, the next upside target would be $75.30.

Bearish Scenario:
If UKOIL fails to hold $73.80 and breaks below this level, it may signal a further decline.