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Crude Oil · USOIL

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Crude Oil: Descending Triangle

USOIL, 1 day    SHORT Nov 1
Sep1120Oct1020Nov107274767880828486889092949698↓ resistance ↓↑ support ↑breakoutUSOIL · 1D · 1 Nov 2023
We can see that a descending triangle has been diagnosed, the price breaks out. In case if price breaks down, the resulting move could identify the bulls have run out of steam. A move towards 80 about to be made on a breach of 82.
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Crude Oil: Descending Triangle

USOIL, 4 hours    LONG Nov 28
202672.573.073.574.074.575.075.576.076.577.077.578.078.579.079.5↓ resistance ↓↑ support ↑breakoutUSOIL · 4H · 28 Nov 2023
USOIL completes a descending triangle, the price breaks out. A descending triangle depicts a price formation that often identifies a bullish price action in case if price breaks above resistance. USOIL to extend its rebound towards 77 as indicators favor bulls.
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Crude Oil: Descending Triangle

USOIL, 1 hour    SHORT Nov 6
312:00 5 612:00 712:0078.579.079.580.080.581.081.582.082.583.083.5↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 6 Nov 2023
There is a descending triangle arising and the price is ready to break out. A descending triangle denotes a technical price formation that predicts a next move down once price breakdown occurs. It is possible that decline to 80.5 will form on a breach of 80.7.
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Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT Jun 19
12:001512:001612:00181912:002012:0067.067.568.068.569.069.570.070.571.071.572.072.573.0↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 19 Jun 2023
An ascending channel is found and the price is ready to break out soon. An ascending channel identifies a sharp decline in case if price breakdown occurs. USOIL risks extending drop to 70.5.
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Crude Oil: Descending Triangle

USOIL, 1 hour    LONG Jul 20
12:001912:002012:002112:0074.074.274.474.674.875.075.275.475.675.876.076.276.476.676.877.077.277.4↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 20 Jul 2023
As we can see a descending triangle is close to completion, USOIL requests a further move as an information of a breakout. A descending triangle describes a signal that often predicts a sharp rise once price breaks above resistance. USOIL to recover bullish potential to the 76 mark on a breach of 75.8 as the commodity nears 75.8 hurdle.
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Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT Mar 7
12:00 612:00 777.677.878.078.278.478.678.879.079.279.479.679.880.080.280.4↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 7 Mar 2024
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Crude Oil: Rectangle

USOIL, 1 hour    LONG Nov 28
12:00262712:002812:002974.474.674.875.075.275.475.675.876.076.276.476.676.877.0↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 28 Nov 2023
As we can see USOIL completes a rectangle and the price calls for a bigger move to confirm rectangle breakout. Once price breaks through the resistance, the resulting move could spot that the price to go long. A bullish move towards 75.8 is on the way.
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Crude Oil: Descending Triangle

USOIL, 1 hour    SHORT Mar 9
12:00 812:00 912:001074.575.075.576.076.577.077.578.078.579.079.580.080.581.0↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 9 Mar 2023
There is a descending triangle occuring, USOIL calls for a next steady move for clear breakdown confirmation. A descending triangle tends to be a price action indicator that typically results in that the price to go down once price breakdown occurs. USOIL to push down to the 76.2 zone on a breakout of the descending triangle.
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Crude Oil: Descending Channel

USOIL, 1 hour    LONG Jun 13
12:00 912:00111212:001312:001465.065.566.066.567.067.568.068.569.069.570.070.571.071.572.072.573.073.574.0↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 13 Jun 2023
It looks like the price establishes a descending channel and the price is going to break out. If price breaks through the resistance, the move could predict a potential bullish reversal in price action. USOIL aims to complete a retracement towards 69 on a breakout of the descending channel.
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Crude Oil: Descending Triangle

USOIL, 1 hour    SHORT Sep 25
12:002212:00242512:002688.488.688.889.089.289.489.689.890.090.290.490.690.891.091.291.4↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 25 Sep 2023
It looks like the price builds a descending triangle, the price is going to break out. A descending triangle is said to depict a price action formation that is used to signal that the price to go short when price breakdown occurs. USOIL could drop to the 89.4 level.
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Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT Jun 27
12:00252612:002712:0067.667.868.068.268.468.668.869.069.269.469.669.870.0↓ resistance ↓↑ support ↑breakoutUSOIL · 1H · 27 Jun 2023
There is an ascending channel spotted, the price expects a more active move as proof of a breakdown. An ascending channel often predicts a change in the prevailing trend in case if price breaks out. USOIL challenges a move to the 69 zone while lower than 69.15.
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Crude Oil: Pennant

USOIL, 4 hours    LONG Jul 21
16202572.072.573.073.574.074.575.075.576.076.577.077.578.078.579.079.580.0↓ resistance ↓↑ support ↑breakoutUSOIL · 4H · 21 Jul 2023
There is a pennant poping up and the price is ready to break out. A pennant suggests a technical bullish price pattern that typically indicates a next move up in case if price breaks above resistance. USOIL to enjoy a considerable gain towards 76.5.
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