#ukoil (We are closely monitoring )petrol. Developments related to the war are directly reflected in the chart.


The closing was below 95.976, which was the bottom. This is the first sign that the decline may continue.
Of course, since negotiations yesterday were negative, the rise followed. The upward movement could continue towards 107-110.
If there is a rejection again from this region, a deeper decline may occur.
The condition for cancellation of expectations is a daily and weekly close above the peak of 119.487.
If this close occurs, it means the war has intensified further.
If the decline in oil continues, it indicates that peace talks are ongoing.
If all the upward corrections during the decline reach the support level of 76.834, which is the 0.618 retracement level, and negative news comes again, this support will hold and a rise may occur again.
If the support does not hold, peace news will continue to come.
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