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Brent Oil · UKOIL

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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: Descending Triangle

UKOIL, 4 hours    LONG 38 hours ago
We can see that a descending triangle emerges. A descending triangle often indicates a trend change to the upside if price breaks through the resistance. A rangebound towards 75 is possible on a breach of 74.2 as door open for the continuation of the uptrend.

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: 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: Pennant

UKOIL, 1 hour    LONG Jun 15
A pennant is very close to being finished. A pennant tends to be a compelling bullish pattern that often predicts the more likely potential of rising prices once price breaks out to the the upside. UKOIL to prolong the growth phase to 73.6 while above 73.3.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG May 11
There is a descending channel encountered and the price is about to break out. A descending channel typically signals that the price to go long in case if price breaks out. A further rangebound to 69.5 looks likely on a breakout of the descending channel.

Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT May 12
There is an ascending channel emerging. An ascending channel indicates a further move down once price breaks out. UKOIL is bearish and en route to 68.5 while below 69.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Jun 8
It seems like the price establishes a descending channel, the price wants a move to confirm a breakout. A descending channel often results in a bullish price move once price breaks out to the the upside. UKOIL to extend its rebound towards 71.8.

Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT May 18
There is an ascending channel developing and the price is ready to break out now. An ascending channel tends to be a technical price action pattern with an upward bias that is used to signal extending an downtrend in case if price breaks below support. A bearish continuation to 67 is about to happen.

Brent Oil: Bullish Flag

UKOIL, 4 hours    LONG Apr 26
It seems like a bullish flag is close to being completed and the price demands a move as a sign of a breakout. A bullish flag is believed to be a price pattern that can be used to predict price heading to a new direction once price breaks above resistance. A bullish run to 67 is on the way.

Brent Oil: Descending Triangle

UKOIL, 4 hours    LONG Apr 27
There is a descending triangle identified and the price lacks next rise to confirm descending triangle breakout. A descending triangle tends to be a specific bullish price signal that is used to indicate the bears have run out of steam in case if price breaks out to the the upside. UKOIL to prolong the growth phase to the 68 mark.

Brent Oil: Rectangle

UKOIL, 1 hour    LONG May 24
It looks like a rectangle is almost completed and the price is ready to break out. If price breaks out to the the upside, the resulting move could spot a sharp rise. UKOIL to push up towards the 68 level as the commodity nears 67.2 hurdle.
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