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DESCENDING CHANNEL
Crude Oil
USOIL
1H
There is a descending channel recognized, crude-oil requests a further steady move as a sign of a breakout.
If price breaks above resistance, the resulting move could indicate a further move up.
There is a probability of a rangebound towards 59.5 as the commodity becomes bid.
BEARISH FLAG
Crude Oil
USOIL
4H
A bearish flag takes place and the price is close to breaking out now.
A bearish flag often predicts a next move down once price breaks out to the the downside.
There is a probability of a bearish move to 58 on a breakout of the bearish flag.
DESCENDING TRIANGLE
Crude Oil
USOIL
1H
There is a descending triangle taking place and the price breaks out.
A descending triangle typically indicates extending an downtrend once price breaks out.
It is not ruled out that decline towards the 58.8 mark will happen.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
As we can see the price builds an ascending channel and crude-oil wants a next steady bearish impulse as evidence of a breakout.
An ascending channel depicts a compelling bearish price action signal that often indicates a bullish-to-bearish trend reversal when price breaks below support.
Corrective downside to 59 is possible as the commodity probes 59.3 hurdle.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
An ascending channel emerges, crude-oil asks for a steady move as a verification of a breakdown.
An ascending channel predicts a tendency to break in the opposite direction once price breaks out.
Crude-oil could extend its slump to the 58.5 level as crude-oil challenges 59.1 hurdle.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
The price creates an ascending channel and the price requests a correction as a signal of a breakout.
An ascending channel denotes a specific formation that is angled up that is used to signal price heading to a new direction in case if price breaks down.
There is a chance of a bearish move to 59 as upside pressure seen easing.
RECTANGLE
Crude Oil
USOIL
4H
There is a rectangle exposed.
A rectangle results in a bullish price move in case if price breaks above resistance.
There is a possibility of a move to the 60 level on a breakout of the rectangle.
FALLING WEDGE
Crude Oil
USOIL
4H
There is a falling wedge forming and the price is about to break out.
A falling wedge identifies a breakout higher in case if price breaks out.
Crude-oil to accomodate towards the 59 mark once above 58.2 as downside pressure seen easing.
SYMMETRICAL TRIANGLE
Crude Oil
USOIL
1H
A symmetrical triangle is almost done.
In case if price breaks above resistance, the resulting move could signal a sharp rise.
Crude-oil does not rule out a move to the 58.5 mark.
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