There is a rising wedge happening.
A rising wedge provides a bearish price indicator that is used to signal a sharp decline if price breakdown occurs.
There is a chance of decline towards 78 as there is room for a downside correction.
Crude Oil: Bullish Flag
USOIL,
1 hour
LONG
May 17
It looks like USOIL creates a bullish flag and the price is close to breaking out soon.
A bullish flag indicates that the price to go long in case if price breaks out.
USOIL to increase bullish potential towards 70.8 as the commodity loses bearish momentum.
Crude Oil: Rising Wedge
USOIL,
1 hour
SHORT
Mar 29
A rising wedge is very close to being completed.
A rising wedge typically identifies reversals in uptrends when price breakdown occurs.
It is likely that extra downside towards 73.6 will take place on a breakout of the rising wedge as extra rangebound not ruled out.
Crude Oil: Rising Wedge
USOIL,
1 hour
SHORT
Sep 19
A rising wedge is nearing completion.
In case if price breaks through the support, the move could signal that the price to go down.
There is a probability of a bearish price action towards 91.5 as downtrend may continue.
Crude Oil: Descending Triangle
USOIL,
1 hour
SHORT
Dec 28
There is a descending triangle taking place, USOIL asks for a bearish continuation as an indication of a breakdown.
A descending triangle depicts a useful price pattern that can be used to identify a move down in case if price collapses through the support line.
There is a probability of a bearish continuation towards 73.5 as USOIL becomes bearish.
Crude Oil: Bearish Flag
USOIL,
4 hours
SHORT
Jun 22
The price shows a bearish flag.
Once price breaks out, the resulting move could spot a next move down.
USOIL risks further decline to 70.
Crude Oil: Descending Channel
USOIL,
1 hour
LONG
Nov 17
A descending channel has been recognized and the price needs a bullish move for the certainty of breakout.
A descending channel predicts a next move up in case if price breaks above resistance.
A bullish continuation towards the 75 level is likely to happen on a break above 74.4.
Crude Oil: Descending Channel
USOIL,
4 hours
LONG
Feb 6
A descending channel is close to being finished, the price is ready to break out.
A descending channel often identifies a bullish price move in case if price breaks out to the the upside.
A bullish move towards 74 is likely on a breach of 73.5 as the commodity looks bid.
Crude Oil: Descending Channel
USOIL,
4 hours
LONG
Aug 4
We can see that the price shapes a descending channel, USOIL needs an active move as proof of a breakout.
A descending channel tends to be a price action pattern that can be used to spot that the price will rally further when price breaks through the resistance.
There is a probability of a bullish price action towards the 83 level on a breakout of the descending channel.
Crude Oil: Rising Wedge
USOIL,
1 hour
SHORT
Mar 7
A rising wedge is close to being finished, the price is ready to break out.
A rising wedge often identifies a bullish-to-bearish trend reversal once price collapses through the support line.
USOIL set to accelerate its decline to 79.
Crude Oil: Ascending Triangle
USOIL,
1 hour
LONG
Mar 21
The price builds an ascending triangle and the price calls for a further bigger move as an indication of a breakout.
An ascending triangle often results in that the price to go up once price breaks through the resistance.
USOIL to extend its rebound to the 68 zone.
Crude Oil: Ascending Triangle
USOIL,
1 hour
LONG
Aug 24
We can see that the price completes an ascending triangle.
If price breaks out to the the upside, the move could identify a further move up.
USOIL to strengthen towards 79.2.
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Crude Oil · USOIL