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We are monitoring the $ukoil petrol( chart. It gained attention with war rhetoric.
The 105 level in the rise could act as resistance. When I look at this chart, after a slight increase, peace rhetoric may come again.
And the decline could deepen further.
The condition for cancellation of expectations is a daily and weekly close above the 119,487 peak. If a close occurs, it means the war has intensified further.
If the decline in oil continues, it indicates that peace negotiations are ongoing.
If the decline reaches the support level at 76.834, which is the 0.618 correction level of all the rise, and negative news come again, this support will hold and a rise could occur again.
If the support does not hold, peace news will continue to come.