Union Jack Oil Price: UJO Is in a Fall-off Setting, Tends to Average 8 Points

PUBLISHED: 08 May 2025 @ 19:45 | Comments (0) | More info about Azeez Mustapha

As of the time of this analysis, it is showcased that the moving averages are at the top side of the market operations of Union Jack Oil Plc (LSE:UJO) affirming that the price in a fall-off setting, tends to average 8 points if bears give no chance to any reversal attempt in the proceedings.

Given the current technical positioning of the indicators, a consolidation phase appears necessary to facilitate further downward movement, potentially driving the price below its current level around 9. This phase may serve as a setup for deeper retracements within the prevailing bearish context. In the interim, prospective buyers are advised to await the formation of a definitive bullish candlestick pattern as a potential confirmation signal before initiating any long position orders.

Resistance Levels: 11, 12, 13
Support Levels: 7, 6, 5

What is expected of UJO Plc participants as the price averages 8 points, trading below the EMAs?

It is yet depicted that the current bearish candlestick formation has been featuring with a full bearish body pattern to possibly see more decreases in the valuation of Union Jack Oil Plc stock if buyers fail to make a quick comeback seeing that the forces are averaging 8 points.

It is presently showcasing that the stochastic oscillators remain southbound, swinging freely within the 40 to 20-point range, and simultaneously making some reactive moves within the oversold region, indicating sustained bearish momentum. Moreover, the trend line of the 15-day EMA indicator is positioned firmly underneath the 50-day EMA trend line, reinforcing the prevailing downward market structure and lack of bullish crossover signals.

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