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Crude Oil · USOIL

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Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT 6 hours ago
An ascending channel is very close to being completed and the price is ready to break out. An ascending channel identifies a technical price action indicator that can be used to signal a countertrend succeeding the current trend in case if price breaks out. USOIL could attempt a move to 109 on a breakdown of the ascending channel as USOIL probes 109.6 hurdle.

Crude Oil: Rising Wedge

USOIL, 1 hour    SHORT 9 hours ago
There is a rising wedge developing. A rising wedge identifies that the price to go down when price breaks out to the the downside. Decline towards the 109 zone looks possible.

Crude Oil: Ascending Channel

USOIL, 4 hours    SHORT 4 days ago
It seems like USOIL forms an ascending channel and USOIL wants a more steady move as evidence of a breakdown. An ascending channel is a reliable price action formation that is used to identify the more likely potential of falling prices once price breaks below support. USOIL to suffer a steeper decline towards the 104 zone.

Crude Oil: Rectangle

USOIL, 4 hours    LONG Feb 24
A rectangle develops. When price breaks through the resistance, the move could signal a move up. It is not ruled out that a bullish price action to 96 will be made.

Crude Oil: Ascending Triangle

USOIL, 1 hour    LONG 28 hours ago
There is an ascending triangle encountered, the price asks for an active move for clear breakout confirmation. An ascending triangle is believed to be a reliable indicator that often spots the bears have run out of steam in case if price breaks through the resistance. There is a possibility of a bullish push up towards 110.

Crude Oil: Rectangle

USOIL, 1 hour    SHORT Nov 26
We can see that USOIL creates a rectangle. A rectangle typically signals an extension in the downward direction if price breaks out. USOIL set to fall towards the 78 zone.

Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT 5 days ago
There is an ascending channel occuring. When price breaks out, the move could signal a move down. USOIL risks extending drop towards 110 as USOIL is at a brink of a bearish breakout.

Crude Oil: Rectangle

USOIL, 1 hour    LONG Dec 27
There is a rectangle taking place. When price breaks through the resistance, the resulting move could spot an extension in the upward direction. There is a possibility of a bullish push up to the 74.5 zone once beyond 74 amid the commodity reclaims part of the ground lost.

Crude Oil: Ascending Channel

USOIL, 4 hours    SHORT Jun 15
We can see that an ascending channel turns up, USOIL asks for a steady move to confirm ascending channel breakout. An ascending channel identifies a bullish-to-bearish trend reversal once price breaks out to the the downside. USOIL to move back towards 118 while below 118.5.

Crude Oil: Bullish Flag

USOIL, 1 hour    LONG Jan 14
There is a bullish flag arising and the price is close to breaking out soon. If price breaks above resistance, the resulting move could spot price reversal after a pause. USOIL to prolong the growth phase towards 82.2.

Crude Oil: Falling Wedge

USOIL, 4 hours    LONG Jun 24
As we can see the price shows a falling wedge and USOIL calls for a bigger move as a clue of a breakout. A falling wedge denotes a compelling signal that indicates a next move up once price breaks out. There is a possibility of a bullish push up towards 110 once above 106.

Crude Oil: Ascending Channel

USOIL, 1 day    SHORT Jun 16
An ascending channel has been determined, USOIL expects an impulse down for clear breakdown confirmation. In case if price breaks out to the the downside, the move could spot extending an downtrend. A further bearish move towards 110 is not ruled out on a breakout of the ascending channel as sell-off may continue.
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