The price creates a rectangle and the price is about to break out.
A rectangle can be thought of as a technical price signal that often indicates a further move up when price breaks out to the the upside.
UKOIL to extend its rebound towards 84.6.
Brent Oil: Pennant
UKOIL,
1 hour
LONG
Jan 9
There is a pennant observed.
If price breaks through the resistance, the resulting move could indicate a move up.
There is a possibility of a bullish continuation to the 78.5 zone.
Brent Oil: Descending Triangle
UKOIL,
1 hour
LONG
May 9
There is a descending triangle found and the price breaks out soon.
A descending triangle represents a bullish chart formation that signals a bullish price action once price breaks through the resistance.
UKOIL targets a move towards the 77 zone as bulls looking for profit.
Brent Oil: Pennant
UKOIL,
1 hour
LONG
Jul 27
It looks like the price builds a pennant, the price calls for a more move as a signal of a breakout.
A pennant tends to be a price formation that typically identifies a sharp rise if price breaks out.
UKOIL hints a change to the upside towards 83.5.
Brent Oil: Descending Triangle
UKOIL,
1 hour
LONG
Jan 24
There is a descending triangle revealed, the price is about to break out.
A descending triangle is said to depict a compelling bullish price signal that can be used to predict a sharp rise when price breaks out to the the upside.
UKOIL is bullish and en route to 80.5 on a breakout of the descending triangle.
Brent Oil: Descending Triangle
UKOIL,
1 day
LONG
Jun 17
There is a descending triangle exposed and the price is ready to break out.
A descending triangle describes a useful bullish price action formation that is used to identify the bears have run out of steam if price breaks through the resistance.
A bullish run to the 78 mark is probable.
Brent Oil: Descending Channel
UKOIL,
1 hour
LONG
Apr 11
A descending channel has been observed, the price wants an active bullish continuation for the certainty of breakout.
If price breaks through the resistance, the move could predict a move up.
There is a chance of a bullish push up to the 85 zone as there is room for a upside correction.
Brent Oil: Ascending Channel
UKOIL,
1 hour
SHORT
Aug 21
We can see that an ascending channel comes out.
An ascending channel results in a temporary interruption during a rising market when price collapses through the support line.
There is a probability of a bearish push down to 85 on a break below 85.5.
Brent Oil: Pennant
UKOIL,
4 hours
LONG
Nov 28
We can see that a pennant is almost finished and UKOIL asks for a next move as a clue of a breakout.
Once price breaks above resistance, the resulting move could signal a next move up.
A bullish price action towards 82 about to be made.
Brent Oil: Ascending Triangle
UKOIL,
4 hours
LONG
Sep 12
UKOIL composes an ascending triangle and the price breaks out now.
An ascending triangle represents a specific signal that identifies a next move up when price breaks out.
UKOIL advances higher to 91.5.
Brent Oil: Symmetrical Triangle
UKOIL,
1 hour
SHORT
May 2
A symmetrical triangle is close to completion, the price needs a strong move as proof of a breakout.
A symmetrical triangle is considered to be a price action signal that signals a sharp decline once price breaks out.
A bearish price action towards the 78.5 level is probable on a downside break as indicators turn bearish.
Brent Oil: Rectangle
UKOIL,
1 hour
SHORT
Dec 4
It looks like UKOIL completes a rectangle and the price asks for a next steady move as a signal of a breakdown.
A rectangle can be thought of as a technical bearish price action pattern that can be used to spot an extension in the downward direction in case if price breaks through the support.
UKOIL risks extending drop to 81.
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Brent Oil · UKOIL