An ascending channel is very close to being finished.
An ascending channel identifies a chart pattern that often indicates a bearish price action once price breakdown occurs.
Further decline towards 77 about to be made.
Brent Oil: Bullish Rectangle
UKOIL,
1 hour
LONG
Jun 19
UKOIL shapes a bullish rectangle and the price is close to breaking out now.
A bullish rectangle denotes a compelling bullish indicator that can be used to spot a bullish price action once price breaks out to the the upside.
It is not ruled out that a rangebound towards 77 will be made.
Brent Oil: Ascending Channel
UKOIL,
1 hour
SHORT
May 29
An ascending channel is close to being done and the price requires a more move to confirm ascending channel breakdown.
An ascending channel is believed to be a bearish price pattern that has an upward slope that typically spots the bulls have run out of steam in case if price breaks through the support.
It is possible that a bearish push down towards 76 will happen as gains remain capped.
Brent Oil: Descending Triangle
UKOIL,
1 hour
SHORT
Nov 7
A descending triangle has been uncovered.
A descending triangle is said to depict a bearish indicator that typically spots an extension in the downward direction when price breaks out to the the downside.
Corrective downside towards the 84.5 level is on the way as risk reversal sheds bullish bias.
Brent Oil: Rising Wedge
UKOIL,
1 hour
SHORT
Jun 22
There is a rising wedge appearing, the price asks for fall as a signal of a breakout.
A rising wedge is a compelling bearish price signal that can be used to spot a further move down if price breaks through the support.
UKOIL set to fall towards 76 on a breach of 76.6 as the commodity challenges 76.6 hurdle.
Brent Oil: Ascending Channel
UKOIL,
1 hour
SHORT
Nov 30
There is an ascending channel forming, the price is ready to break out now.
An ascending channel denotes a bearish signal that can be used to identify price heading to a new direction once price collapses through the support line.
There is a possibility of further decline towards 82 as UKOIL looks offered.
Brent Oil: Ascending Channel
UKOIL,
1 hour
SHORT
Oct 30
There is an ascending channel occuring, the price is about to break out.
An ascending channel is believed to be a reliable chart signal that can be used to spot a countertrend succeeding the current trend if price breaks down.
UKOIL could extend its slump to the 88.5 mark.
Brent Oil: Falling Wedge
UKOIL,
4 hours
LONG
Dec 12
There is a falling wedge determined.
A falling wedge suggests a specific signal that can be used to indicate the more likely potential of rising prices once price breaks out to the the upside.
It is likely that a further bullish price action to the 77 zone will take place on a breakout of the falling wedge as downside pressure alleviates.
Brent Oil: Bearish Flag
UKOIL,
1 hour
SHORT
Dec 12
As we can see a bearish flag takes place.
In case if price breaks below support, the move could indicate the more likely potential of falling prices.
UKOIL points to the downside to 75.5 on a breach of 75.6.
Brent Oil: Ascending Channel
UKOIL,
4 hours
SHORT
Jan 29
There is an ascending channel poping up, the price requests a further correction as proof of a breakdown.
Once price breaks out, the move could spot a bearish move.
UKOIL set to fall to the 80 zone as UKOIL becomes under pressure.
Brent Oil: Descending Channel
UKOIL,
1 hour
LONG
Apr 11
There is a descending channel turning up, the price is close to breaking out.
When price breaks out, the move could predict a bullish move.
UKOIL to prolong the growth phase to the 86 zone.
Brent Oil: Ascending Channel
UKOIL,
4 hours
SHORT
Dec 27
The price composes an ascending channel, the price demands a further bigger move as a signal of a breakout.
An ascending channel is a specific price action formation that has an upward slope that often signals a further move down when price breaks out to the the downside.
Decline towards 79 looks likely.
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Brent Oil · UKOIL