Open:
High:
Low:
Close:
RECTANGLE
Brent Oil
UKOIL
4H
It seems like a rectangle is close to being completed, the price is close to breaking out now.
A rectangle typically results in a bearish price action if price breaks through the support.
Brent-oil to fall to 61.5.
CANAL DESCENDANT
Brent Oil
UKOIL
1H
There is a descending channel exposed, brent-oil asks for a bit more consolidation as an indication of a breakout.
A descending channel predicts a bullish price move once price breaks above resistance.
Brent-oil points to the upside to the 63 level.
CANAL DESCENDANT
Brent Oil
UKOIL
1H
There is a descending channel poping up.
A descending channel represents a bullish formation that is angled down that indicates a break in the price direction in case if price breaks through the resistance.
A bullish price action to 63 stays on the cards.
CANAL DESCENDANT
Brent Oil
UKOIL
1H
Brent-oil gives a descending channel, the price requests a more strong bearish impulse as a verification of a breakdown.
A descending channel represents a useful bearish chart pattern that indicates extending an downtrend if price breaks below support.
It is not ruled out that extra downside towards the 62.5 level will occur.
CANAL ASCENDANT
Brent Oil
UKOIL
1H
There is an ascending channel diagnosed, the price lacks a next bearish action to confirm ascending channel breakdown.
An ascending channel indicates the bulls have run out of steam when price breaks out.
Brent-oil to suffer a steeper decline to the 62.5 level.
BISEAU ASCENDANT
Brent Oil
UKOIL
4H
It looks like a rising wedge is identified and the price is breaking out.
A rising wedge predicts a tendency to break in the opposite direction when price breaks out to the the downside.
There is a probability of extra downside to the 62.5 level as minor hurdle remains at 63.1.
CANAL ASCENDANT
Brent Oil
UKOIL
1H
As we can see brent-oil establishes an ascending channel, the price is about to break out.
When price breaks out to the the downside, the resulting move could indicate a bearish price action.
Brent-oil looks for a setback to the 63.2 mark.
DRAPEAU HAUSSIER
Brent Oil
UKOIL
1D
There is a bullish flag identified and the price is ready to break out.
A bullish flag identifies a price action signal that can be used to signal a tendency to break in the opposite direction if price breaks through the resistance.
There is a chance of a move to the 64 level.
CANAL DESCENDANT
Brent Oil
UKOIL
4H
As we can see a descending channel turns up, brent-oil calls for a bigger bullish continuation to confirm a breakout.
A descending channel often spots that prices move counter to the prevailing price trend once price breaks above resistance.
Brent-oil to prolong the growth phase to the 64 level as downside pressure alleviates.
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