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Brent Oil · UKOIL

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Brent Oil: Falling Wedge

UKOIL, 1 hour    LONG Apr 21
There is a falling wedge discovered, UKOIL expects a more bullish impulse as proof of a breakout. When price breaks through the resistance, the move could indicate that prices move counter to the prevailing price trend. It is likely that a move towards 82 will take place.

Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT Jan 12
We can see that an ascending channel arises. An ascending channel is considered to be a compelling formation that is angled up that identifies a breakdown is likely to occur if price breaks out to the the downside. UKOIL to resume its downfall to 77 as UKOIL becomes offered.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Aug 8
There is a descending channel arising, UKOIL requests a more strong move as a clue of a breakout. A descending channel indicates that the price to go long once price breaks out. There is a possibility of a bullish push up towards the 85.5 level.

Brent Oil: Rising Wedge

UKOIL, 1 hour    SHORT Apr 6
There is a rising wedge detected. When price breaks out to the the downside, the resulting move could indicate a countertrend succeeding the current trend. It is likely that a further move towards the 84.8 zone will take place on a breakout of the rising wedge.

Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT Mar 23
There is an ascending channel emerging. An ascending channel identifies a specific pattern with an upward bias that often results in a break in the price direction if price breaks through the support. UKOIL challenges a move to the 76 zone on a breakout of the ascending channel as bears looking for downside correction.

Brent Oil: Ascending Channel

UKOIL, 4 hours    SHORT Dec 4
An ascending channel is almost done, the price requires a more strong move as evidence of a breakdown. An ascending channel can be thought of as a useful price formation that is angled up that indicates a temporary interruption of an existing trend when price breaks out to the the downside. There is a possibility of a bearish continuation towards 80 on a break below 81.

Brent Oil: Ascending Channel

UKOIL, 1 hour    SHORT Feb 14
UKOIL shapes an ascending channel. An ascending channel describes a specific price formation that is angled up that is used to spot that the price to go short when price breaks through the support. It is possible that a bearish price action to 82.5 will take place while below 82.8.

Brent Oil: Descending Channel

UKOIL, 1 hour    LONG Sep 26
There is a descending channel occuring, the price is close to breaking out. If price breaks out to the the upside, the resulting move could predict a bullish price action. UKOIL points to the upside to the 94 mark as risk reversal sheds bearish bias.

Brent Oil: Ascending Channel

UKOIL, 4 hours    SHORT Apr 14
It seems like an ascending channel is very close to being finished and the price requires a bigger move for the certainty of breakdown. An ascending channel typically signals an upward trend is about to reverse into an downward trend once price collapses through the support line. UKOIL violates bullish trendline towards 86.

Brent Oil: Descending Triangle

UKOIL, 1 hour    LONG Oct 19
A descending triangle forms and the price wants next rise to confirm descending triangle breakout. A descending triangle represents a technical pattern that is used to signal that the price to go up when price breaks above resistance. UKOIL to strengthen towards 91.

Brent Oil: Descending Triangle

UKOIL, 1 hour    LONG Oct 6
A descending triangle is very close to being completed. A descending triangle indicates that the price to go up in case if price breaks out. There is a probability of a bullish price action to 84.5.

Brent Oil: Descending Triangle

UKOIL, 4 hours    SHORT Apr 18
It seems like a descending triangle turns up, the price is ready to break out soon. A descending triangle is considered to be a technical indicator that predicts a sharp decline once price breaks out to the the downside. It is possible that a bearish push down to 84 will form on a break below 84.4.
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