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PENNANT
Brent Oil
UKOIL
1H
There is a pennant noticed and brent-oil wants a bigger correction as an information of a breakdown.
A pennant results in that the price to go down when price breaks through the support.
Brent-oil is at risk of resuming its decline towards 96 on a breakout of the pennant as outlook for brent-oil stays negative.
BULLISH FLAG
Brent Oil
UKOIL
1H
It seems like a bullish flag happens.
In case if price breaks through the resistance, the move could signal the bears have run out of steam.
It is not ruled out that a further bullish continuation towards 106 will happen.
ASCENDING TRIANGLE
Brent Oil
UKOIL
4H
The price creates an ascending triangle and the price wants a next correction as an information of a breakdown.
An ascending triangle denotes a useful signal that is used to indicate a bearish move if price breakdown occurs.
It is likely that a bearish push down towards 102 will occur on a breach of 103 as the mood may get worse.
BULLISH FLAG
Brent Oil
UKOIL
1H
The price composes a bullish flag, the price expects a more active bullish impulse as an indication of a breakout.
When price breaks out, the resulting move could signal a further move up.
Brent-oil embarks on a bullish correction to 107.
DESCENDING CHANNEL
Brent Oil
UKOIL
1H
There is a descending channel determined, brent-oil calls for a strong bullish continuation as proof of a breakout.
Once price breaks above resistance, the move could indicate a countertrend succeeding the current trend.
Brent-oil targets a move towards 108.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
There is an ascending channel taking place and brent-oil calls for a more steady bearish continuation to confirm ascending channel breakout.
If price breaks out to the the downside, the resulting move could identify the more likely potential of falling prices.
Brent-oil could attempt a move towards the 105 level once below 105.4 as there is a chance for a downside correction.
BEARISH FLAG
Brent Oil
UKOIL
1H
A bearish flag is close to being finished and the price wants a steady move to confirm bearish flag breakdown.
A bearish flag denotes a useful chart pattern with an upward bias that identifies a further move down when price collapses through the support line.
Brent-oil targets a move to 106.
ASCENDING CHANNEL
Brent Oil
UKOIL
4H
An ascending channel is almost completed.
An ascending channel describes a reliable indicator that can be used to spot that prices move counter to the prevailing price trend once price breaks through the support.
It is likely that corrective downside towards 100 will be made.
ASCENDING TRIANGLE
Brent Oil
UKOIL
1H
As we can see an ascending triangle has been uncovered, the price asks for an active move as a sign of a breakout.
When price breaks out, the move could spot that the price to go up.
It is possible that a bullish push up to 109 will occur.
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