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.
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.
Brent Oil: Ascending Triangle
UKOIL,
1 hour
LONG
Mar 31
There is an ascending triangle discovered, UKOIL wants a bullish impulse as an indication of a breakout.
An ascending triangle identifies a technical bullish chart pattern that is used to spot a further move up when price breaks out to the the upside.
A bullish run towards 80 is about to happen on a breach of 79.4.
Brent Oil: Descending Channel
UKOIL,
1 hour
LONG
Feb 21
As we can see a descending channel develops.
When price breaks above resistance, the resulting move could predict a move up.
There is a chance of a rangebound towards 83.5 as UKOIL nears 82.9 hurdle.
Brent Oil: Descending Channel
UKOIL,
4 hours
LONG
Jul 5
There is a descending channel occuring and the price is close to breaking out.
If price breaks out to the the upside, the resulting move could signal a temporary interruption during a falling market.
It is not ruled out that a further bullish run towards 77 will occur as UKOIL nears 76.4 hurdle.
Brent Oil: Descending Channel
UKOIL,
1 hour
LONG
Jan 11
There is a descending channel forming.
A descending channel denotes a pattern that is angled down that often identifies a change in the prevailing trend in case if price breaks out.
A further bullish run towards 78.5 looks possible while above 78.3.
Brent Oil: Rectangle
UKOIL,
1 hour
SHORT
May 30
It seems like a rectangle has been found, the price lacks more fall as a verification of a breakout.
A rectangle identifies a next move down once price breakdown occurs.
There is a probability of a rangebound towards 76.2 on a downside break.
Brent Oil: Rising Wedge
UKOIL,
1 hour
SHORT
Feb 20
A rising wedge comes out and the price lacks next push down as a clue of a breakout.
A rising wedge denotes a technical price action pattern that can be used to identify that the price to go short once price breaks out.
It is possible that a bearish continuation towards the 82.5 mark will be made as sell-off may continue.
Brent Oil: Bearish Flag
UKOIL,
1 hour
SHORT
Nov 15
We can see that a bearish flag is determined, the price expects a more strong move as an indication of a breakdown.
In case if price breaks through the support, the move could predict price reversal after a pause.
UKOIL to slump to the 81 zone once below 82.2.
Brent Oil: Bullish Flag
UKOIL,
1 hour
LONG
Oct 12
A bullish flag takes place and the price calls for a next bigger move as a signal of a breakout.
A bullish flag is said to depict a useful price indicator that identifies a break during a downtrending market once price breaks through the resistance.
It is likely that a bullish price action to the 87.5 zone will be made.
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Brent Oil · UKOIL