UKOIL develops a descending channel.
If price breaks out, the move could signal a bullish price action.
A bullish run towards the 83 mark is a possibility.
Brent Oil: Ascending Channel
UKOIL,
4 hours
SHORT
Oct 3
There is an ascending channel happening, the price is ready to break out.
An ascending channel represents a compelling bearish signal that results in a move down once price breaks down.
UKOIL looks south to 93.
Brent Oil: Descending Triangle
UKOIL,
1 day
LONG
Jun 4
Brent Oil: Rising Wedge
UKOIL,
1 hour
SHORT
Jan 16
As we can see UKOIL shows a rising wedge.
A rising wedge signals a bearish price move when price breaks out to the the downside.
There is a possibility of corrective downside to 78 as UKOIL becomes weaker.
Brent Oil: Ascending Channel
UKOIL,
4 hours
SHORT
May 25
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.
Brent Oil: Bullish Flag
UKOIL,
1 hour
LONG
Sep 14
It looks like a bullish flag is exposed, UKOIL requires a more strong move as proof of a breakout.
A bullish flag identifies a compelling price indicator that often predicts a downward trend is about to reverse into an upnward trend once price breaks through the resistance.
UKOIL tests a move towards 92.6.
Brent Oil: Ascending Channel
UKOIL,
1 hour
SHORT
Jan 29
There is an ascending channel poping up.
If price breaks out, the resulting move could predict a further move down.
UKOIL to experience further corrective weakness to 82.
Brent Oil: Ascending Channel
UKOIL,
4 hours
SHORT
Dec 28
There is an ascending channel uncovered, UKOIL expects an active impulse down as a sign of a breakout.
When price breaks through the support, the move could identify a trend change to the downside.
UKOIL turns lower towards 79 on a breach of 79.4 as UKOIL probes 79.4 hurdle.
Brent Oil: Ascending Channel
UKOIL,
4 hours
SHORT
Dec 22
As we can see an ascending channel occurs and the price is ready to break out.
If price breakdown occurs, the move could predict the more likely potential of falling prices.
UKOIL now looks to 79.
Brent Oil: Pennant
UKOIL,
1 hour
SHORT
Oct 16
There is a pennant poping up, brent-oil lacks a bearish continuation as a clue of a breakdown.
If price breakdown occurs, the resulting move could indicate a bearish price action.
A rangebound towards 62 is likely to happen as brent-oil failes to keep gains.
Brent Oil: Descending Channel
UKOIL,
1 hour
LONG
Nov 21
A descending channel has been identified.
A descending channel represents a compelling bullish price pattern that is angled down that can be used to identify a bullish price move when price breaks out.
Brent-oil to extend its advance to the 63 zone as the commodity nears 62.6 hurdle.
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Brent Oil · UKOIL