Brent Oil
UKOIL
1H
A rising wedge has been recognized, the price wants a next bigger move for the certainty of breakdown.
A rising wedge can be thought of as a technical bearish formation that is angled up that can be used to predict an upward trend is nearing its end in case if price collapses through the support line.
There is a chance of a bearish price action to the 110 level on a breakout of the rising wedge.