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Brent Oil · UKOIL

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Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Jul 9
There is a descending channel materializing and UKOIL needs a further active move to confirm a breakout. A descending channel identifies a specific bullish signal that can be used to indicate a breakout higher when price breaks above resistance. UKOIL looks ready to further extend its gains to 75.5 on impulse above 74.6 as bulls looking for profit.

Brent Oil: Rectangle

UKOIL, 1 hour    SHORT Aug 18
A rectangle comes out and the price is about to break out now. A rectangle provides a formation that is used to identify that the price to go down when price breaks out. A rangebound towards the 68.8 level is probable as weakness continues.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG May 27
There is a descending channel taking place. Once price breaks above resistance, the move could indicate price reversal after a pause. UKOIL advances higher to 69.2.

Brent Oil: Descending Channel

UKOIL, 1 hour    SHORT 3 days ago
There is a descending channel materializing. A descending channel signals a sharp decline when price breaks down. UKOIL set to plunge to 74.8 on a breakout of the descending channel.

Brent Oil: Descending Channel

UKOIL, 1 day    LONG Aug 31
There is a descending channel emerging and UKOIL lacks a bit more consolidation to confirm descending channel breakout. A descending channel denotes a compelling indicator that typically indicates a change in the prevailing trend in case if price breaks out to the the upside. It is likely that a bullish run towards the 74 level will take place as bulls looking for upside correction.

Brent Oil: Rectangle

UKOIL, 1 hour    SHORT Aug 13
There is a rectangle recognized. A rectangle identifies an indicator that results in a further move down if price breaks through the support. UKOIL challenges a move to 70.8.

Brent Oil: Rising Wedge

UKOIL, 1 hour    SHORT Aug 6
It looks like a rising wedge is very close to being finished, UKOIL needs a further strong correction for clear breakout confirmation. A rising wedge predicts a bearish price move in case if price breakdown occurs. UKOIL to prolong the corrective phase towards the 72 level as bears look for entries.

Brent Oil: Rectangle

UKOIL, 1 day    LONG Jun 3
A rectangle is close to being completed. Once price breaks out to the the upside, the move could signal a move up. It is not ruled out that a bullish run to the 72 zone will happen.

Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT May 18
As we can see an ascending channel is very close to being finished. In case if price breaks out to the the downside, the move could spot the more likely potential of falling prices. UKOIL to push down to 68.5.

Brent Oil: Rectangle

UKOIL, 1 hour    SHORT Aug 13
A rectangle is almost done and the price calls for a next move as a sign of a breakout. A rectangle spots a sharp decline when price breaks out to the the downside. It is likely that a further bearish price action to 70.6 will be made on a downside break.

Brent Oil: Ascending Channel

UKOIL, 4 hours    SHORT Aug 2

Brent Oil: Ascending Channel

UKOIL, 4 hours    SHORT Aug 2
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