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SYMMETRICAL TRIANGLE
Brent Oil
UKOIL
1H
A symmetrical triangle takes place, the price is ready to break out.
A symmetrical triangle provides a specific bearish price formation that can be used to predict the more likely potential of falling prices once price collapses through the support line.
A bearish price action towards 108 looks likely on a break below 110.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
It seems like an ascending channel happens and the price is ready to break out now.
An ascending channel provides a compelling price action pattern that has an upward slope that can be used to spot an extension in the downward direction once price breaks below support.
Brent-oil to move back towards the 110 level.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
There is an ascending channel coming out.
An ascending channel typically indicates prices are likely to keep falling downward once price breaks below support.
There is a possibility of a rangebound to the 112 zone as extra rangebound not ruled out.
ASCENDING TRIANGLE
Brent Oil
UKOIL
1H
As we can see an ascending triangle develops.
An ascending triangle denotes a compelling bullish chart indicator that is used to indicate a sharp rise when price breaks out.
Brent-oil could attempt a move to the 114 level on a breakout of the ascending triangle.
PENNANT
Brent Oil
UKOIL
1H
We can see that a pennant emerges, brent-oil requires a move as a clue of a breakout.
A pennant is said to depict a bearish signal that can be used to signal a move down if price breaks down.
Brent-oil risks potential downside towards 106 as the commodity becomes weaker.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
There is an ascending channel happening, the price lacks a next strong move as an indication of a breakout.
An ascending channel results in that the price to go short in case if price breaks out to the the downside.
A bearish price action towards the 106 zone is not ruled out as gains remain capped.
BULLISH FLAG
Brent Oil
UKOIL
1D
We can see that a bullish flag is close to being done.
A bullish flag denotes a bullish pattern that is used to identify a downward trend is nearing its end when price breaks above resistance.
It is not ruled out that a bullish move towards the 110 mark will form.
PENNANT
Brent Oil
UKOIL
1H
A pennant happens and the price is close to breaking out.
A pennant signals a next move up once price breaks above resistance.
Brent-oil turns higher towards the 106 mark as brent-oil challenges 104.8 hurdle.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
It looks like an ascending channel is nearing completion.
An ascending channel typically indicates prices are likely to keep falling downward when price breakdown occurs.
It is not ruled out that a further bearish run towards the 103 level will happen.
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