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ASCENDING TRIANGLE
Crude Oil
USOIL
4H
It looks like an ascending triangle is close to being completed and the price breaks out.
An ascending triangle denotes a compelling bullish price pattern that is used to signal a further move up if price breaks through the resistance.
It is not ruled out that a bullish run to 76 will be made.
FALLING WEDGE
Crude Oil
USOIL
1H
A falling wedge is identified.
A falling wedge provides a specific price action formation with a downward bias that indicates a countertrend succeeding the current trend once price breaks through the resistance.
Crude-oil to resume its rise towards the 73 level.
DESCENDING TRIANGLE
Crude Oil
USOIL
1H
We can see that crude-oil gives a descending triangle.
A descending triangle signals prices are likely to keep falling downward when price breaks out to the the downside.
There is a chance of a bearish run towards 71 on a breach of 71.4.
ASCENDING CHANNEL
Crude Oil
USOIL
4H
An ascending channel is very close to being finished.
An ascending channel represents a useful formation that has an upward slope that is used to indicate a change in price direction when price collapses through the support line.
It is not ruled out that a bearish run to 70 will happen.
DESCENDING CHANNEL
Crude Oil
USOIL
1H
As we can see a descending channel takes place, the price is ready to break out soon.
In case if price breaks above resistance, the resulting move could signal price heading to a new direction.
It is likely that a bullish continuation to the 72 level will occur as crude-oil probes 72 hurdle.
ASCENDING CHANNEL
Crude Oil
USOIL
4H
An ascending channel is revealed.
An ascending channel tends to be a reliable price action signal that often identifies a next move down if price breaks out to the the downside.
Crude-oil to maintain its negative tone towards 70 on a breach of 72 as extra rangebound not ruled out.
DESCENDING CHANNEL
Crude Oil
USOIL
1D
A descending channel is almost finished, crude-oil requires a further move as a clue of a breakout.
A descending channel can be thought of as a specific bullish chart formation that has a downward slope that can be used to identify that the price to go up once price breaks out to the the upside.
There is a probability of a move to 80 as bullish momentum increases.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
It seems like an ascending channel materializes, crude-oil needs a next move to confirm ascending channel breakout.
An ascending channel predicts a bearish price action if price breakdown occurs.
Crude-oil risks a correction towards the 72 mark while below 73.5.
RISING WEDGE
Crude Oil
USOIL
1H
We can see that crude-oil establishes a rising wedge and the price expects a further bigger correction as evidence of a breakdown.
A rising wedge tends to be a bearish chart indicator that indicates a breakdown is likely to occur when price breaks out to the the downside.
Crude-oil dives out bullish trendline towards 69.
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