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: 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: Pennant
UKOIL,
1 hour
SHORT
22 hours ago
Brent-oil completes a pennant and the price lacks steady pullback to confirm a breakout.
In case if price breaks out to the the downside, the move could predict a bearish move.
Brent-oil to drop to 62.4 on a break below 62.5.
Brent Oil: Descending Channel
UKOIL,
4 hours
LONG
Sep 24
There is a descending channel appearing.
A descending channel indicates a next move up if price breaks above resistance.
Brent-oil opens door for a move to 68 as the commodity challenges 67.8 hurdle.
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.
Brent Oil: Descending Channel
UKOIL,
1 hour
LONG
Jan 11
As we can see a descending channel is distinguished, the price is breaking out.
A descending channel tends to be a reliable indicator that often identifies a bullish price move once price breaks above resistance.
A further bullish price action towards 78 is probable once beyond 77.8 as UKOIL becomes bullish.
Brent Oil: Descending Channel
UKOIL,
4 hours
LONG
Jul 4
UKOIL shapes a descending channel, the price calls for a more steady move as an indication of a breakout.
A descending channel provides a useful bullish price pattern that is angled down that indicates a next move up once price breaks out to the the upside.
UKOIL dives out bearish trendline towards 76 as the commodity becomes bullish.
Brent Oil: Bullish Rectangle
UKOIL,
4 hours
LONG
Aug 4
As we can see a bullish rectangle is encountered and UKOIL asks for a next strong bullish continuation as proof of a breakout.
A bullish rectangle is believed to be a bullish pattern that typically spots a next move up when price breaks through the resistance.
UKOIL targets a move to the 86 level on a breakout of the bullish rectangle.
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Brent Oil · UKOIL