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FALLING WEDGE
Crude Oil
USOIL
1H
Crude-oil shapes a falling wedge.
A falling wedge provides a compelling chart signal that results in a move up when price breaks out to the the upside.
Crude-oil to strengthen towards 93 on a breakout of the falling wedge as downside pressure alleviates.
DESCENDING TRIANGLE
Crude Oil
USOIL
1H
It looks like crude-oil shapes a descending triangle and crude-oil needs a steady move as proof of a breakdown.
A descending triangle describes a useful chart signal that often identifies a bearish move once price breaks out.
Crude-oil could extend its slump towards the 99.5 mark on a breakout of the descending triangle as crude-oil becomes capped.
ASCENDING CHANNEL
Crude Oil
USOIL
4H
The price sets up an ascending channel, crude-oil asks for a further active move as a verification of a breakout.
An ascending channel indicates a potential bearish reversal in price action when price breaks below support.
There is a possibility of a bearish continuation towards 98.
FALLING WEDGE
Crude Oil
USOIL
1H
It looks like a falling wedge is close to being completed and the price requires a steady bullish continuation as a signal of a breakout.
A falling wedge spots a bullish price move if price breaks through the resistance.
There is a possibility of a bullish move towards the 102 zone on a breach of 101 as bulls looking for profit.
ASCENDING TRIANGLE
Crude Oil
USOIL
1H
An ascending triangle is close to being finished and the price is going to break out now.
An ascending triangle often signals an extension in the downward direction once price breaks below support.
There is a chance of a bearish move towards 102.
RISING WEDGE
Crude Oil
USOIL
4H
It seems like crude-oil develops a rising wedge and the price requests a bigger bearish continuation to confirm a breakout.
A rising wedge depicts a useful bearish price action pattern with an upward bias that typically signals a bullish-to-bearish trend reversal in case if price breaks down.
Corrective downside towards the 102 level looks probable on a breakout of the rising wedge.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
There is an ascending channel appearing and the price wants a next strong bearish move for clear breakout confirmation.
An ascending channel can be thought of as a technical bearish price action pattern that typically identifies a bearish price action once price collapses through the support line.
A bearish push down to 102 is not ruled out.
DESCENDING TRIANGLE
Crude Oil
USOIL
1H
There is a descending triangle encountered.
A descending triangle results in a bullish price action in case if price breaks out.
There is a probability of a bullish continuation to the 104 mark as crude-oil nears 103.6 hurdle.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
An ascending channel is almost finished, the price is about to break out now.
Once price breaks out to the the downside, the resulting move could signal an extension in the downward direction.
A bearish price action towards the 101 mark is possible.
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