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We are following war news through the $ukoil (oil) chart.
What happened this week is reflected in the chart as well; negotiations between Iran and the US are pausing and resuming. The market interprets this negatively.
Therefore, #Ukoil remains above the Fibonacci 0.618 level of 105 resistance during the decline.
It could challenge up to the Fibonacci 0.786 resistance of 111.
If it cannot close above the 119,487 peak for the day and week, the decline may continue.
This also indicates that, based on the charts, if it remains in a bit of limbo, there is still a possibility of peace.
If a close above the 119,487 peak occurs, it means the war has intensified even further.