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: 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: 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: Pennant
UKOIL,
1 hour
LONG
Nov 26
Brent-oil gives a pennant and the price expects a next bigger impulse up as a clue of a breakout.
If price breaks out to the the upside, the resulting move could indicate a further move up.
Brent-oil to extend its rebound to 63 while above 62.5.
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.
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: 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 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.
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Brent Oil · UKOIL