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ASCENDING CHANNEL
Crude Oil
USOIL
1H
As we can see the price composes an ascending channel and crude-oil needs a more strong bearish move to confirm a breakout.
Once price breaks out to the the downside, the move could predict a change in price direction.
Crude-oil to head towards 61 as extra rangebound not ruled out.
RECTANGLE
Crude Oil
USOIL
4H
There is a rectangle uncovered and crude-oil expects a more steady bullish impulse for clear breakout confirmation.
A rectangle can be thought of as a price action signal that is used to identify an extension in the upward direction in case if price breaks out to the the upside.
Crude-oil to accomodate towards 59.5 on a breach of 59.2 as uptrend may continue.
RISING WEDGE
Crude Oil
USOIL
1H
There is a rising wedge poping up and crude-oil requests a next active impulse down as proof of a breakout.
A rising wedge represents a reliable price signal that is used to identify a sharp decline if price breaks below support.
It is possible that corrective downside to the 58 zone will be made on a break below 58.4 as crude-oil becomes weaker.
DESCENDING CHANNEL
Crude Oil
USOIL
1H
It looks like crude-oil shows a descending channel and the price demands an active move as evidence of a breakout.
A descending channel represents a reliable formation that is angled down that identifies reversals in downtrends if price breaks through the resistance.
Crude-oil to look for a further push to 58.5.
DESCENDING CHANNEL
Crude Oil
USOIL
1H
There is a descending channel turning up and crude-oil asks for a bigger move as a signal of a breakout.
A descending channel represents a compelling pattern that has a downward slope that is used to identify a further move up in case if price breaks out to the the upside.
Crude-oil does not rule out a move to 58.5 on a breakout of the descending channel.
DESCENDING CHANNEL
Crude Oil
USOIL
4H
There is a descending channel materializing, crude-oil requests next bigger push up as a sign of a breakout.
A descending channel tends to be a compelling price formation that often identifies a bullish move once price breaks above resistance.
Crude-oil to look for a further push to the 58 zone as the commodity is at a brink of a bullish breakout.
BEARISH FLAG
Crude Oil
USOIL
1H
A bearish flag is very close to being finished, the price requests a more bigger bearish impulse for the certainty of breakout.
A bearish flag indicates a pause in an uptrending market when price breaks out.
A bearish run towards the 56.5 mark looks possible.
RECTANGLE
Crude Oil
USOIL
1H
We can see that a rectangle arises and crude-oil demands a bit more consolidation as a verification of a breakout.
When price breaks through the resistance, the resulting move could identify the bears have run out of steam.
It is possible that a bullish run towards the 58 zone will take place.
FALLING WEDGE
Crude Oil
USOIL
4H
There is a falling wedge encountered, crude-oil demands a more steady move as a sign of a breakout.
If price breaks out to the the upside, the move could indicate that the price to go up.
Crude-oil to strengthen to 58 as uptrend may continue.
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