A rectangle occurs and the price is about to break out soon.
A rectangle can be thought of as a compelling price pattern that spots a bearish move once price breaks down.
USOIL accelerates losses to 73.
Crude Oil: Descending Channel
USOIL,
4 hours
LONG
May 17
There is a descending channel spotted and the price is ready to break out soon.
A descending channel identifies a technical bullish price formation that can be used to identify a further move up when price breaks above resistance.
USOIL to enjoy a considerable gain to the 73 zone.
Crude Oil: Symmetrical Triangle
USOIL,
1 hour
LONG
Jul 28
A symmetrical triangle is exposed, USOIL wants an active bullish move for the certainty of breakout.
A symmetrical triangle identifies a reliable chart signal that often results in that the price will rally further once price breaks out.
A rangebound to the 80.2 mark is on the cards as the commodity becomes bullish.
Crude Oil: Ascending Triangle
USOIL,
4 hours
LONG
Aug 29
USOIL sets up an ascending triangle.
An ascending triangle represents a reliable pattern that is used to predict an extension in the upward direction if price breaks above resistance.
USOIL to jump to 81 on a breakout of the ascending triangle.
Crude Oil: Descending Channel
USOIL,
1 hour
LONG
Mar 1
Crude Oil: Pennant
USOIL,
1 hour
SHORT
Nov 22
A pennant materializes, USOIL needs an active move as evidence of a breakdown.
A pennant is considered to be a useful bearish price action indicator that is used to identify that the price to go down if price breakdown occurs.
USOIL does not rule out a move to the 77.5 mark on a breakout of the pennant as the commodity becomes offered.
Crude Oil: Falling Wedge
USOIL,
1 hour
LONG
Sep 14
There is a falling wedge exposed.
Once price breaks out, the resulting move could signal that prices are likely to keep rallying upward.
There is a possibility of a bullish price action to the 89.2 level on impulse above 89.1 as extra rangebound not ruled out.
Crude Oil: Bearish Rectangle
USOIL,
1 hour
SHORT
Dec 5
A bearish rectangle is close to being finished, the price is breaking out.
A bearish rectangle depicts a bearish pattern that can be used to spot extending an downtrend in case if price breaks out to the the downside.
USOIL risks further downside towards the 73 level on a breach of 73.1.
Crude Oil: Descending Channel
USOIL,
1 hour
LONG
Aug 18
There is a descending channel noticed and the price is breaking out.
If price breaks through the resistance, the move could predict price reversal after a pause.
There is a chance of a bullish price action towards 80 once beyond 79.7 as there is a chance for a upside correction.
Crude Oil: Descending Channel
USOIL,
1 hour
LONG
Mar 20
The price composes a descending channel.
A descending channel often signals a downward trend is nearing its end if price breaks through the resistance.
USOIL to move up to 67 on a upside break.
Crude Oil: Rising Wedge
USOIL,
4 hours
SHORT
Nov 15
A rising wedge is very close to being completed.
Once price breaks out, the move could spot a move down.
USOIL to plummet to the 78 zone.
Crude Oil: Descending Channel
USOIL,
1 hour
LONG
Jun 15
As we can see a descending channel develops and USOIL needs a further bullish continuation as an information of a breakout.
A descending channel suggests a useful bullish price signal that is used to indicate a tendency to break in the opposite direction if price breaks above resistance.
There is a possibility of a bullish price action towards 70.5.
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Crude Oil · USOIL