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.
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.
UKOIL forms an ascending channel, UKOIL requires a next bigger bearish move as an information of a breakdown.
If price breaks below support, the resulting move could indicate a next move down.
A further bearish run towards the 75 zone looks likely as the commodity probes 76.2 hurdle.
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.
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.
There is an ascending channel occuring, UKOIL needs more steady fall as a signal of a breakdown.
An ascending channel is believed to be a price action pattern that identifies a sharp decline when price breaks below support.
It is not ruled out that decline to the 84 zone will occur on a breakout of the ascending channel.
There is an ascending channel poping up, UKOIL calls for a next steady move as a clue of a breakdown.
An ascending channel describes a technical bearish price action pattern that has an upward slope that often spots a sharp decline once price breakdown occurs.
There is a probability of corrective downside towards the 84 mark.
It seems like UKOIL shapes an ascending channel and the price is ready to break out.
An ascending channel identifies a useful pattern that predicts a move down once price breaks through the support.
There is a possibility of a move to 80 as the commodity nears 81 hurdle.
There is a descending channel encountered and the price expects a further bigger bullish action as evidence of a breakout.
A descending channel is considered to be a reliable indicator that is used to predict a pause in a downtrending market once price breaks out.
There is a possibility of a move to the 103 mark.
No Investment Advice Provided.
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
Patterns.cc will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.