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Brent Oil · UKOIL

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Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT Jan 12
An ascending channel is close to being finished. When price breaks through the support, the move could identify a temporary interruption during a rising market. UKOIL risks a move towards 79.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Apr 21
A descending channel is almost done. A descending channel describes a useful chart indicator that is used to predict a break in the price direction when price breaks out. UKOIL dives out bearish trendline towards the 82 zone.

Brent Oil: Ascending Triangle

UKOIL, 1 hour    SHORT Nov 6
As we can see an ascending triangle happens and UKOIL needs a bigger correction as a clue of a breakout. An ascending triangle represents a technical bearish price action pattern that typically predicts the more likely potential of falling prices in case if price breaks down. UKOIL pulls away from recent highs to the 85.5 level.

Brent Oil: Rectangle

UKOIL, 1 hour    SHORT Jun 22
A rectangle is nearing completion. A rectangle is said to depict a compelling price action signal that often identifies a bearish move once price breaks through the support. UKOIL challenges a move towards 75 while lower than 75.4.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Oct 25
As we can see a descending channel develops, the price breaks out. When price breaks through the resistance, the resulting move could predict that prices move counter to the prevailing price trend. It is not ruled out that a further bullish price action to 89 will take place as door open for the continuation of the uptrend.

Brent Oil: Ascending Triangle

UKOIL, 1 hour    LONG Aug 25
The price shapes an ascending triangle, the price breaks out soon. An ascending triangle predicts that the price to go up in case if price breaks above resistance. There is a possibility of a rangebound to 84 on a breakout of the ascending triangle.

Brent Oil: Descending Triangle

UKOIL, 4 hours    LONG Jan 10
As we can see a descending triangle is close to being done and the price is going to break out soon. In case if price breaks out to the the upside, the resulting move could predict the more likely potential of rising prices. It is likely that a bullish push up to the 79 mark will happen.

Brent Oil: Rising Wedge

UKOIL, 1 hour    SHORT Mar 7
There is a rising wedge determined and UKOIL requires a bearish impulse to confirm rising wedge breakout. A rising wedge identifies a reliable bearish chart formation that is used to identify a change in the prevailing trend when price breaks through the support. UKOIL to head to 85 once below 85.6.

Brent Oil: Ascending Triangle

UKOIL, 1 hour    SHORT Jun 27
An ascending triangle is close to being completed and the price requires a further move as proof of a breakout. An ascending triangle provides a formation that is used to spot a bearish price action if price breaks down. UKOIL set to extend its decline to the 74 mark as the commodity keeps the bid tone.

Brent Oil: Falling Wedge

UKOIL, 1 hour    LONG Jan 17
UKOIL creates a falling wedge and the price is about to break out. A falling wedge depicts a compelling chart formation with a downward bias that predicts that the price to go up in case if price breaks through the resistance. There is a possibility of a bullish price action towards 77.5 as uptrend may continue.

Brent Oil: Descending Triangle

UKOIL, 1 hour    LONG Jul 11
It looks like a descending triangle is almost done. A descending triangle often signals a break in the price direction when price breaks out to the the upside. UKOIL embarks on a bullish correction to 78.4.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Jan 18
A descending channel is very close to being completed, the price demands a strong bullish impulse as a verification of a breakout. A descending channel suggests a specific price action signal that is used to signal a downward trend is nearing its end once price breaks out to the the upside. A bullish run towards the 78.5 zone is about to happen once beyond 78.2.
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