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Crude Oil · USOIL

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Crude Oil: Rising Wedge

USOIL, 1 hour    SHORT Feb 19
As we can see a rising wedge has been encountered and the price needs bigger pullback as a verification of a breakout. A rising wedge identifies a useful pattern that is angled up that is used to indicate extending an downtrend when price breakdown occurs. USOIL is at risk of extending its slump towards the 78.5 zone.

Crude Oil: Ascending Channel

USOIL, 4 hours    SHORT Dec 27
An ascending channel is close to completion, USOIL wants a more active bearish action for the certainty of breakout. An ascending channel provides a useful signal that typically identifies that the price to go short in case if price breakdown occurs. USOIL still risks a move to the 73 zone.

Crude Oil: Descending Channel

USOIL, 1 hour    LONG Jan 11
The price establishes a descending channel, the price expects a further move for the certainty of breakout. A descending channel identifies a potential reversal in price action once price breaks above resistance. USOIL to increase bullish potential towards the 73.5 level once beyond 72.9.

Crude Oil: Rectangle

USOIL, 1 hour    SHORT Aug 2
There is a rectangle emerging. A rectangle is believed to be a reliable price action formation that identifies extending an downtrend if price breakdown occurs. A bearish run to 81 is on the way.

Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT Aug 2
There is an ascending channel taking place. An ascending channel is considered to be a specific price indicator that is used to predict that the price to go short once price collapses through the support line. There is a chance of decline to 81.5 as USOIL becomes bearish.

Crude Oil: Bearish Flag

USOIL, 1 hour    SHORT May 29
As we can see a bearish flag pops up and the price is about to break out now. A bearish flag identifies a compelling bearish formation that can be used to signal a move down if price breaks down. USOIL to prolong the corrective phase to 72.

Crude Oil: Bearish Flag

USOIL, 1 hour    SHORT Oct 4
There is a bearish flag arising. A bearish flag often identifies a bearish price action when price collapses through the support line. USOIL pulls back to 88 on a downside break.

Crude Oil: Bullish Flag

USOIL, 1 hour    LONG Mar 27
USOIL sets up a bullish flag, USOIL lacks a steady move as evidence of a breakout. Once price breaks above resistance, the move could predict that the price to go up. It is not ruled out that a bullish push up to 71 will form.

Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT Jul 14
As we can see an ascending channel is diagnosed and the price requests a further steady move as a signal of a breakout. An ascending channel spots a bearish move if price breakdown occurs. It is not ruled out that a bearish push down to the 76.5 zone will happen.

Crude Oil: Rising Wedge

USOIL, 1 hour    SHORT Mar 23
There is a rising wedge taking place and the price is close to breaking out. In case if price collapses through the support line, the resulting move could indicate a bearish move. A rangebound towards the 70 zone about to be made.

Crude Oil: Ascending Channel

USOIL, 1 hour    SHORT Jun 8
An ascending channel has been spotted. An ascending channel denotes a useful indicator that can be used to indicate a trend change to the downside in case if price breaks below support. It is possible that a bearish move towards 72 will take place on a breach of 72.4.

Crude Oil: Descending Channel

USOIL, 1 day    LONG Jul 6
A descending channel has been identified and USOIL wants bigger rise as evidence of a breakout. A descending channel represents a chart pattern with a downward bias that predicts the bears have run out of steam when price breaks out to the the upside. USOIL to continue the appreciation trend to the 74 level as outlook for USOIL stays positive.
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