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ASCENDING CHANNEL
Crude Oil
USOIL
1H
The price forms an ascending channel, crude-oil expects a next move to confirm ascending channel breakout.
In case if price breaks out, the resulting move could indicate a break in the price direction.
Crude-oil to maintain its negative tone towards 70 once below 70.2 as bears looking for downside correction.
DESCENDING TRIANGLE
Crude Oil
USOIL
4H
The price creates a descending triangle.
Once price breaks out to the the upside, the resulting move could identify extending an uptrend.
It is not ruled out that a bullish run towards the 71 level will happen on a breach of 70.6 as the commodity becomes supported.
BEARISH FLAG
Crude Oil
USOIL
1H
A bearish flag is encountered and the price is about to break out soon.
A bearish flag depicts an indicator that predicts a bearish move when price breaks below support.
A bearish push down towards 70 about to be made.
PENNANT
Crude Oil
USOIL
1H
It seems like a pennant is close to completion and the price expects a further move to confirm pennant breakout.
A pennant is a compelling chart indicator that is used to spot a bullish move if price breaks out to the the upside.
It is likely that a bullish continuation towards the 71 level will be made.
DESCENDING CHANNEL
Crude Oil
USOIL
1H
We can see that a descending channel arises and the price calls for a next move to confirm a breakout.
A descending channel often results in that the price to go long in case if price breaks out to the the upside.
There is a possibility of a move towards 71 on a breach of 70 as the commodity probes 70 hurdle.
FALLING WEDGE
Crude Oil
USOIL
4H
There is a falling wedge arising.
A falling wedge depicts a useful bullish pattern with a downward bias that results in that the price to go long in case if price breaks out.
There is a possibility of a bullish price action to the 72 level.
FALLING WEDGE
Crude Oil
USOIL
1H
There is a falling wedge found, the price is breaking out.
Once price breaks out, the resulting move could signal a bullish price move.
It is possible that a bullish price action towards the 70 level will take place.
BEARISH FLAG
Crude Oil
USOIL
1H
It looks like a bearish flag occurs and the price is ready to break out now.
A bearish flag often signals that prices move counter to the prevailing price trend if price breaks below support.
It is likely that corrective downside towards 70 will form.
FALLING WEDGE
Crude Oil
USOIL
4H
It looks like a falling wedge materializes, the price is about to break out.
A falling wedge tends to be a specific bullish pattern that identifies a further move up when price breaks through the resistance.
Crude-oil turns bullish towards the 72 mark as crude-oil nears 71.5 hurdle.
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