A descending channel has been distinguished and the price requires a further active move as an indication of a breakout.
A descending channel tends to be a price action formation with a downward bias that typically spots that prices move counter to the prevailing price trend if price breaks through the resistance.
UKOIL to continue the appreciation trend to the 85 mark as downside pressure seen easing.
Brent Oil: Descending Triangle
UKOIL,
4 hours
LONG
Jul 21
It looks like a descending triangle is found.
A descending triangle results in a sharp rise in case if price breaks out to the the upside.
UKOIL to resume its rise towards 81.
Brent Oil: Ascending Channel
UKOIL,
4 hours
SHORT
Aug 8
There is an ascending channel appearing, UKOIL calls for a next move as an indication of a breakout.
An ascending channel describes a technical bearish chart indicator that is used to indicate a bearish price move in case if price breaks out.
There is a possibility of a bearish push down towards the 82 zone as the commodity is at a brink of a bearish breakout.
Brent Oil: Pennant
UKOIL,
1 hour
LONG
May 5
As we can see a pennant comes out, the price asks for an active move as proof of a breakout.
In case if price breaks out, the resulting move could spot the bears have run out of steam.
There is a possibility of a move to 73.5 on a break above 73.
Brent Oil: Rising Wedge
UKOIL,
1 hour
SHORT
Jun 19
It looks like a rising wedge emerges.
A rising wedge represents a compelling indicator that predicts a trend change to the downside once price breaks out to the the downside.
There is a probability of a bearish push down towards the 75 level while below 76.2 as bears looking for downside correction.
Brent Oil: Descending Channel
UKOIL,
4 hours
LONG
Dec 14
UKOIL gives a descending channel and the price breaks out.
A descending channel results in that the price will rally further if price breaks out.
It is possible that a move to 77 will form on a break above 76.
Brent Oil: Rectangle
UKOIL,
4 hours
SHORT
Dec 28
There is a rectangle found, the price is close to breaking out.
A rectangle describes a technical bearish price signal that is used to spot a move down if price breakdown occurs.
UKOIL looks south towards the 77 zone.
Brent Oil: Descending Channel
UKOIL,
1 hour
LONG
Jul 7
There is a descending channel found and UKOIL requests a next bigger move as an indication of a breakout.
When price breaks out to the the upside, the move could spot a next move up.
UKOIL points to the upside to 77 once above 76.7 as UKOIL probes 76.7 hurdle.
Brent Oil: Rectangle
UKOIL,
1 hour
LONG
Jul 7
We can see that a rectangle has been found.
If price breaks above resistance, the resulting move could predict the bears have run out of steam.
A bullish push up towards 77.5 is going to happen once beyond 77.1.
Brent Oil: Bearish Flag
UKOIL,
1 hour
SHORT
Oct 10
As we can see a bearish flag materializes and UKOIL asks for a next move as an indication of a breakout.
A bearish flag is a chart signal that typically results in that the price to go down if price breaks through the support.
There is a chance of a further bearish push down towards 87 on a breakout of the bearish flag.
Brent Oil: Ascending Triangle
UKOIL,
1 hour
LONG
Jan 18
We can see that the price forms an ascending triangle, the price is ready to break out soon.
An ascending triangle describes a technical bullish chart indicator that can be used to predict a next move up when price breaks out to the the upside.
It is likely that a bullish run towards 79 will happen.
Brent Oil: Rectangle
UKOIL,
1 hour
SHORT
Mar 8
UKOIL builds a rectangle.
A rectangle suggests a price signal that can be used to spot a next move down if price collapses through the support line.
UKOIL risks a move to 82 on a break below 82.2 as UKOIL becomes vulnerable.
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Brent Oil · UKOIL