Open:
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FALLING WEDGE
Crude Oil
USOIL
1H
It looks like a falling wedge forms, the price is ready to break out soon.
In case if price breaks out, the move could predict a change in price direction.
Crude-oil to have better chances of advancing to the 102 level on a breakout of the falling wedge.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
An ascending channel is almost done and crude-oil calls for a next bigger bearish impulse as a clue of a breakdown.
When price breaks through the support, the resulting move could indicate that the price to go down.
Crude-oil to extend its slide towards 100.5 while below 100.8.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
An ascending channel happens.
An ascending channel typically results in a bearish price move in case if price breakdown occurs.
Crude-oil does not rule out a move towards 100.5 on a breakout of the ascending channel as crude-oil challenges 100.8 hurdle.
RISING WEDGE
Crude Oil
USOIL
1H
There is a rising wedge poping up.
In case if price breaks out to the the downside, the resulting move could identify the bulls have run out of steam.
Crude-oil to nosedive towards 100 on a breakdown of the rising wedge as crude-oil becomes capped.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
An ascending channel materializes, crude-oil asks for a bigger move as evidence of a breakout.
An ascending channel provides a specific bearish price action signal that identifies a bearish move when price breakdown occurs.
Crude-oil risks extending drop towards the 101 zone on a breakout of the ascending channel.
DESCENDING CHANNEL
Crude Oil
USOIL
4H
It seems like the price builds a descending channel and the price is breaking out.
A descending channel suggests a specific chart formation that is angled down that can be used to indicate that the price to go up in case if price breaks through the resistance.
Crude-oil to look for a further push to 105 once beyond 100.
SYMMETRICAL TRIANGLE
Crude Oil
USOIL
1H
There is a symmetrical triangle noticed, the price requires a next steady bullish move as an indication of a breakout.
A symmetrical triangle identifies a useful bullish pattern that often results in a bullish price action once price breaks out to the the upside.
It is possible that a bullish continuation towards 100 will occur while above 99.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
An ascending channel has been encountered, crude-oil wants a bigger correction as a clue of a breakdown.
An ascending channel results in an extension in the downward direction in case if price breakdown occurs.
Crude-oil to push down towards the 97 zone while below 97.5 as there is a chance for a downside correction.
ASCENDING TRIANGLE
Crude Oil
USOIL
1H
There is an ascending triangle spotted and the price calls for a move as a signal of a breakout.
An ascending triangle is a bullish price action formation that is used to spot that prices are likely to keep rallying upward if price breaks above resistance.
Crude-oil to peak towards 100.
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