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: Bearish Flag
UKOIL,
1 day
SHORT
Oct 1
It looks like a bearish flag develops and the price is about to break out.
In case if price breakdown occurs, the move could indicate a break in the price direction.
Brent-oil to prolong the corrective phase to the 65 level on a breakout of the bearish flag.
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: Bearish Flag
UKOIL,
1 hour
SHORT
Oct 16
There is a bearish flag materializing, the price lacks a further active move to confirm a breakout.
A bearish flag spots a bearish price action when price breaks through the support.
A bearish push down towards the 62 zone is probable while lower than 62.1.
Brent Oil: Rising Wedge
UKOIL,
1 hour
SHORT
29 hours ago
There is a rising wedge coming out, the price breaks out soon.
A rising wedge identifies a chart pattern that is used to predict a bearish price action if price breakdown occurs.
It is likely that a bearish move towards 62.2 will be made on impulse below 62.4 amid rising bets for the move.
Brent Oil: Descending Triangle
UKOIL,
1 hour
LONG
Oct 20
We can see that a descending triangle arises.
A descending triangle results in the bears have run out of steam when price breaks above resistance.
Brent-oil opens door for a move to 61.
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,
4 hours
SHORT
Oct 10
A bearish flag materializes, the price is ready to break out.
A bearish flag denotes a specific bearish indicator that often identifies the bulls have run out of steam in case if price breaks down.
Brent-oil to head towards the 63.5 mark on a downside break.
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.
Brent Oil: Ascending Triangle
UKOIL,
4 hours
SHORT
Nov 19
We can see that an ascending triangle has been identified and the price is about to break out soon.
An ascending triangle is said to depict a technical price pattern that typically signals that the price to go short once price breaks through the support.
Brent-oil to slump to 64 on a breakout of the ascending triangle as weakness continues.
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Brent Oil · UKOIL