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Crude Oil: Rectangle

USOIL, 1 hour    SHORT Feb 23
A rectangle comes out, the price breaks out soon. A rectangle is considered to be a technical formation that typically identifies a bearish move in case if price breaks below support. Decline towards 77.6 is about to happen on a break below 77.7 amid USOIL recedes from recent highs.

Gold: Ascending Triangle

XAU/USD, 1 hour    LONG Feb 29

Crude Oil: Bearish Flag

USOIL, 1 hour    SHORT Feb 23
It looks like a bearish flag has been diagnosed. When price breaks down, the resulting move could indicate a bearish price move. USOIL opens door for a move to the 78 zone.

Gold: Descending Channel

XAU/USD, 1 hour    LONG Feb 29

Brent Oil: Rectangle

UKOIL, 1 hour    SHORT Feb 23
We can see that a rectangle turns up. A rectangle typically indicates an extension in the downward direction when price breaks down. UKOIL could drop to 82 on a breakout of the rectangle.

Crude Oil: Ascending Triangle

USOIL, 1 hour    SHORT Feb 23
There is an ascending triangle identified and the price asks for a next move as a clue of a breakdown. Once price breaks below support, the resulting move could indicate the more likely potential of falling prices. A bearish continuation to 78 is about to happen.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Mar 30
It seems like a descending channel emerges and UKOIL requires a more steady move for the certainty of breakout. A descending channel is said to depict a reliable price action formation that can be used to identify a move up once price breaks out. It is not ruled out that a bullish run to the 79 zone will be made as the commodity probes 78.7 hurdle.

Brent Oil: Bullish Flag

UKOIL, 1 hour    LONG Mar 31
It seems like a bullish flag is detected. If price breaks above resistance, the move could spot a further move up. It is likely that a further bullish move to 79.5 will take place as door open for the continuation of the uptrend.

Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT Feb 23
There is an ascending channel poping up and the price demands a next move for the certainty of breakdown. An ascending channel often predicts that the price to go down if price breaks out. UKOIL to slide towards 82.5 on a breach of 83 as the mood may get worse.

Crude Oil: Descending Triangle

USOIL, 1 hour    SHORT May 30
A descending triangle is diagnosed and USOIL requests a bigger correction to confirm a breakout. When price breaks out to the the downside, the move could predict that the price to go short. It is likely that a move to 71 will occur on a breakdown of the descending triangle.

Gold: Descending Channel

XAU/USD, 1 hour    LONG Dec 13
A descending channel has been diagnosed. A descending channel represents a specific bullish price formation that has a downward slope that predicts extending an uptrend once price breaks out to the the upside. There is a probability of a bullish price action towards 2000 on a break above 1997.5.

Gold: Bearish Flag

XAU/USD, 1 hour    SHORT Jan 5
As we can see a bearish flag is close to completion. A bearish flag is a reliable bearish formation that is used to signal that prices move counter to the prevailing price trend once price collapses through the support line. XAU/USD risks further decline towards the 2046 mark on a breakdown of the bearish flag.
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