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ASCENDING CHANNEL
Brent Oil
UKOIL
1H
There is an ascending channel diagnosed, the price lacks a next bearish action to confirm ascending channel breakdown.
An ascending channel indicates the bulls have run out of steam when price breaks out.
Brent-oil to suffer a steeper decline to the 62.5 level.
RISING WEDGE
Brent Oil
UKOIL
4H
It looks like a rising wedge is identified and the price is breaking out.
A rising wedge predicts a tendency to break in the opposite direction when price breaks out to the the downside.
There is a probability of extra downside to the 62.5 level as minor hurdle remains at 63.1.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
As we can see brent-oil establishes an ascending channel, the price is about to break out.
When price breaks out to the the downside, the resulting move could indicate a bearish price action.
Brent-oil looks for a setback to the 63.2 mark.
RISING WEDGE
Crude Oil
USOIL
1H
Crude-oil creates a rising wedge and crude-oil calls for a move as an information of a breakout.
A rising wedge tends to be a reliable price pattern that has an upward slope that is used to indicate a bearish move when price collapses through the support line.
Crude-oil to continue lower to 59.5 once below 60.
RISING WEDGE
Crude Oil
USOIL
4H
A rising wedge is very close to being completed, the price is close to breaking out.
A rising wedge is a technical bearish price action formation that can be used to spot a next move down when price breaks out to the the downside.
Crude-oil to extend its setback to 59.5 amid crude-oil recedes from tops.
DESCENDING TRIANGLE
Platinum
XPT/USD
4H
A descending triangle is close to being completed.
A descending triangle typically results in a next move up if price breaks out to the the upside.
A move to 1680 is likely to happen once beyond 1660.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
We can see that the price shows an ascending channel, the price is ready to break out now.
An ascending channel describes a bearish formation that has an upward slope that can be used to spot a potential reversal in price action when price breakdown occurs.
Platinum could recede to the 1645 mark as the commodity keeps the bid tone.
DESCENDING TRIANGLE
Crude Oil
USOIL
1D
There is a descending triangle diagnosed, crude-oil requires a next bigger move as a clue of a breakout.
A descending triangle can be thought of as a technical chart indicator that indicates that prices are likely to keep rallying upward if price breaks above resistance.
Crude-oil to look for a further push towards 61 on a breach of 60.2 as minor hurdle remains at 60.2.
BULLISH FLAG
Brent Oil
UKOIL
1D
There is a bullish flag identified and the price is ready to break out.
A bullish flag identifies a price action signal that can be used to signal a tendency to break in the opposite direction if price breaks through the resistance.
There is a chance of a move to the 64 level.
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