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Crude Oil · USOIL

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Crude Oil: Descending Channel

USOIL, 1 hour    SHORT Aug 18
As we can see a descending channel has been uncovered and the price wants a further strong correction as a sign of a breakdown. A descending channel represents a specific signal that often spots an extension in the downward direction if price breaks through the support. There is a probability of a further bearish push down to the 66.2 zone on a breakdown of the descending channel.

Crude Oil: Ascending Triangle

USOIL, 1 hour    SHORT 3 days ago
There is an ascending triangle emerging and the price needs a bigger correction as a verification of a breakout. An ascending triangle describes a specific bearish signal that can be used to spot extending an downtrend once price breakdown occurs. Corrective downside towards 71.5 is possible on a breakdown of the ascending triangle as USOIL nears 72 hurdle.

Crude Oil: Descending Triangle

USOIL, 1 hour    LONG Jun 15
A descending triangle has been exposed and USOIL expects a next bullish impulse to confirm descending triangle breakout. A descending triangle suggests a pattern that often indicates the bears have run out of steam when price breaks out to the the upside. It is not ruled out that a move towards 71.4 will form as the commodity probes 71.2 hurdle.

Crude Oil: Descending Triangle

USOIL, 1 hour    SHORT Jun 10
There is a descending triangle forming, USOIL requests fall as an information of a breakout. When price breaks out, the move could indicate the bulls have run out of steam. A bearish run towards the 69.2 mark is on the cards.

Crude Oil: Rising Wedge

USOIL, 4 hours    SHORT Aug 2

Crude Oil: Falling Wedge

USOIL, 1 hour    LONG May 11
A falling wedge emerges, USOIL requests next rise to confirm a breakout. A falling wedge denotes a bullish chart pattern that can be used to indicate a move up when price breaks above resistance. A rangebound to the 65.5 zone is about to happen.

Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT Aug 2

Crude Oil: Pennant

USOIL, 1 hour    SHORT Aug 18
It seems like a pennant is very close to being finished, the price is about to break out. A pennant is a useful bearish price formation that can be used to spot prices are likely to keep falling downward when price breaks below support. There is a probability of a bearish continuation towards the 66 mark on a breach of 66.4 as gains remain capped.

Crude Oil: Ascending Triangle

USOIL, 1 hour    SHORT Aug 31
There is an ascending triangle discovered. An ascending triangle signals that the price to go down once price breakdown occurs. A move to the 68 mark is a possibility on a breakout of the ascending triangle.

Crude Oil: Rectangle

USOIL, 1 day    LONG May 28
There is a rectangle spotted, the price is breaking out. A rectangle often indicates that the price to go up when price breaks out. There is a chance of a bullish push up towards 70 while above 67 as outlook for the commodity stays positive.

Crude Oil: Rectangle

USOIL, 1 hour    SHORT Aug 13
A rectangle is almost completed, the price is ready to break out. A rectangle signals a bearish move in case if price breaks out to the the downside. USOIL targets a move to 68.2 on a breakout of the rectangle.

Crude Oil: Falling Wedge

USOIL, 1 hour    LONG Jun 8
There is a falling wedge observed, the price expects a next steady move to confirm falling wedge breakout. A falling wedge is believed to be a chart indicator that identifies a bullish move once price breaks out to the the upside. USOIL to look for a further push towards 69.2 as USOIL nears 69 hurdle.
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