There is a descending triangle materializing, the price requests a bigger correction to confirm descending triangle breakout.
A descending triangle can be thought of as a reliable indicator that results in an extension in the downward direction if price breaks out.
There is a possibility of a bearish price action towards 73.2 while lower than 73.35.
Crude Oil: Ascending Channel
USOIL,
1 hour
SHORT
Jan 31
There is an ascending channel discovered.
An ascending channel tends to be a chart pattern that is angled up that can be used to spot that the price to go short once price breaks down.
It is possible that a move towards the 76 level will happen.
Crude Oil: Rectangle
USOIL,
1 day
LONG
Sep 2
There is a rectangle revealed, the price expects a more active move for clear breakout confirmation.
A rectangle is said to depict a technical bullish price action formation that often signals that prices are likely to keep rallying upward if price breaks above resistance.
USOIL to move up towards the 86 level on a breakout of the rectangle as the commodity probes 84.5 hurdle.
Crude Oil: Descending Triangle
USOIL,
1 hour
LONG
Jul 26
It looks like USOIL shapes a descending triangle, USOIL asks for a next active impulse up as an information of a breakout.
A descending triangle often predicts that the price will rally further in case if price breaks above resistance.
USOIL to jump to 79.2 on a breach of 79.1.
Crude Oil: Ascending Channel
USOIL,
4 hours
SHORT
Feb 21
There is an ascending channel detected.
An ascending channel is a specific formation that often predicts an upward trend is about to reverse into an downward trend in case if price breaks through the support.
There is a possibility of a further rangebound to 76.
Crude Oil: Bearish Flag
USOIL,
1 hour
SHORT
Jan 2
USOIL gives a bearish flag.
When price breaks below support, the move could identify that prices move counter to the prevailing price trend.
It is likely that a bearish price action to the 71.5 level will take place on a breakout of the bearish flag as upside pressure seen easing.
Crude Oil: Bullish Flag
USOIL,
1 hour
LONG
Aug 3
USOIL establishes a bullish flag and the price lacks a next steady move for clear breakout confirmation.
A bullish flag often predicts a bullish price move once price breaks out.
USOIL to recover bullish potential towards 82 as indicators turn bullish.
Crude Oil: Ascending Channel
USOIL,
4 hours
SHORT
Nov 30
It seems like an ascending channel forms and the price calls for a further steady bearish move as evidence of a breakout.
An ascending channel typically signals a bearish price move in case if price breaks through the support.
USOIL to plummet towards the 76 zone on a break below 76.4.
Crude Oil: Descending Channel
USOIL,
1 hour
LONG
Aug 8
As we can see a descending channel has been encountered, the price demands a next move for clear breakout confirmation.
A descending channel can be thought of as a price formation that can be used to signal that the price to go long once price breaks through the resistance.
USOIL to have better chances of advancing to the 82 mark.
Crude Oil: Bullish Flag
USOIL,
1 hour
LONG
Feb 12
Crude Oil: Pennant
USOIL,
1 hour
SHORT
Jul 14
A pennant is determined and USOIL lacks an active move as evidence of a breakdown.
When price collapses through the support line, the move could signal prices are likely to keep falling downward.
USOIL risks further downside to 75.5.
Crude Oil: Rising Wedge
USOIL,
4 hours
SHORT
Oct 19
It looks like a rising wedge is almost done.
A rising wedge often results in that prices move counter to the prevailing price trend once price collapses through the support line.
A move to 87 is not ruled out as minor hurdle remains at 87.6.
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Crude Oil · USOIL