There is a bullish signal on UK Oil and Gas, just like EURJPY

PUBLISHED: 29 Jun 2017 @ 12:51 | Comments (0) | More info about Azeez Mustapha

UK Oil and Gas shares (LSE:UKOG) have gone northwards seriously (just as some currency pairs like EURUSD, EURJPY, GBPUSD, and GBPJPY, etc. have done). This has created a bullish outlook on the market and that is something which is expected to continue.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart. Price has already gone above the EMAs, especially the EMA 200, signaling a Golden Cross. The EMAs 10, 20 and 50 have been sloping upwards.

Right now, UK Oil and Gas is riding the current significant bullish momentum and price could reach the supply levels at 3.00, 4.00 and 5.00 within the next several months.

Traders’ Mindset: Traders’ Mindset

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.