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DESCENDING TRIANGLE
Crude Oil
USOIL
1H
As we can see a descending triangle takes place.
A descending triangle tends to be a useful bullish chart indicator that typically signals a bullish move once price breaks out to the the upside.
Crude-oil is bullish and en route to 60.6 as crude-oil resumes the upside.
FALLING WEDGE
Crude Oil
USOIL
4H
As we can see a falling wedge pops up and the price requests more active push up as an indication of a breakout.
A falling wedge often identifies that the price will rally further when price breaks through the resistance.
Crude-oil targets a move towards the 61.5 level once beyond 61.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
As we can see an ascending channel is very close to being finished, crude-oil requests a strong move as a signal of a breakout.
An ascending channel describes a compelling bearish signal that can be used to identify a move down in case if price breaks down.
Crude-oil to head to 60 on a breach of 60.1.
BULLISH FLAG
Crude Oil
USOIL
4H
There is a bullish flag revealed and the price asks for more bigger push up to confirm a breakout.
A bullish flag identifies a technical pattern that is angled down that typically results in a bullish move once price breaks out to the the upside.
There is a chance of a bullish run towards 61 on a breakout of the bullish flag.
PENNANT
Crude Oil
USOIL
1H
There is a pennant recognized and the price calls for a steady move as evidence of a breakout.
When price breaks through the resistance, the resulting move could signal that the price to go up.
It is possible that a move towards 60.2 will be made.
DESCENDING TRIANGLE
Crude Oil
USOIL
4H
We can see that a descending triangle develops.
A descending triangle describes a useful price pattern that often identifies a move down in case if price breaks below support.
There is a chance of extra downside to 59.5.
BEARISH FLAG
Crude Oil
USOIL
1H
It seems like a bearish flag has been noticed.
A bearish flag is considered to be a bearish price pattern that can be used to indicate the bulls have run out of steam when price collapses through the support line.
A bearish price action to the 59.8 level is possible as bearish momentum increases.
BEARISH FLAG
Crude Oil
USOIL
1H
There is a bearish flag uncovered and crude-oil lacks a further move as a signal of a breakdown.
In case if price breaks through the support, the move could indicate a change in the prevailing trend.
It is likely that corrective downside towards 60 will form on a break below 60.2.
PENNANT
Crude Oil
USOIL
4H
A pennant has been encountered and crude-oil asks for a strong move as an indication of a breakdown.
A pennant often predicts a next move down when price breakdown occurs.
It is not ruled out that a rangebound to 59 will happen on a breakout of the pennant as the commodity nears 60.2 hurdle.
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