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FALLING WEDGE
Crude Oil
USOIL
1H
Crude-oil shows a falling wedge, the price breaks out soon.
A falling wedge typically predicts a temporary interruption during a falling market in case if price breaks out.
Crude-oil advances higher towards the 60.5 mark.
FALLING WEDGE
Crude Oil
USOIL
1H
We can see that a falling wedge materializes and the price lacks a more bullish action to confirm a breakout.
A falling wedge depicts a bullish price pattern that can be used to identify a bearish-to-bullish trend reversal in case if price breaks through the resistance.
Crude-oil does not rule out a move to the 61 zone as there is a chance for a upside correction.
PENNANT
Crude Oil
USOIL
1H
A pennant is close to being complete, crude-oil lacks next fall as an information of a breakdown.
A pennant depicts a reliable price signal that can be used to predict a bearish move once price collapses through the support line.
Crude-oil is at risk of extending its slump to the 61 level.
DESCENDING CHANNEL
Crude Oil
USOIL
1H
It looks like crude-oil develops a descending channel.
A descending channel identifies a useful price formation that is used to identify that the price to go up in case if price breaks out.
Crude-oil points to the upside to the 62 mark.
RECTANGLE
Crude Oil
USOIL
1H
There is a rectangle developing, crude-oil asks for a move as a verification of a breakdown.
A rectangle describes a technical price action indicator that is used to signal the bulls have run out of steam once price breaks below support.
Crude-oil could attempt a move to 61.4.
RISING WEDGE
Crude Oil
USOIL
1H
We can see that a rising wedge is close to being done, the price lacks a more bigger bearish impulse as a verification of a breakout.
If price collapses through the support line, the resulting move could signal a bearish price action.
Crude-oil to suffer further downside to the 61.5 level.
ASCENDING TRIANGLE
Crude Oil
USOIL
1H
There is an ascending triangle poping up, the price breaks out.
When price breaks through the resistance, the move could spot that the price to go long.
It is possible that a further bullish price action to 62.5 will form on impulse above 62.1.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
Crude-oil establishes an ascending channel and the price is breaking out.
An ascending channel can be thought of as a specific price signal that often spots reversals in uptrends if price collapses through the support line.
There is a possibility of a bearish push down towards 60.
FALLING WEDGE
Crude Oil
USOIL
1D
There is a falling wedge happening, the price lacks a strong move as evidence of a breakout.
A falling wedge tends to be a useful bullish price indicator that is used to identify a bullish price action in case if price breaks through the resistance.
Crude-oil does not rule out a move towards 60 as downside pressure mitigates.
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