What Does Ascending Triangle Crude Oil Trading Chart Pattern Mean?

Rising Wedge Crude Oil Trading Chart Pattern

The ascending triangle oil chart pattern in oil is formed in a oil upwards trend & it shows that the upward direction of the oil market is going to continue - the ascending triangle is a continuation oil chart pattern.

Ascending Triangle oil pattern shows that there is a resistance level that the buyers keep pushing each time moving the resistance level higher, & once it breaks out crude oil price will continue to move in an upward trend.

An upside penetration of the upper ascending oil pattern line is a technical buy oil signal for a market breaking out from an ascending triangle oil chart pattern.

What Happens To Oil Trading Price Action After Rising Wedge Ascending Triangle Crude Oil Trading Chart Pattern in Oil?

The oil market formed an ascending triangle oil chart pattern during its upward oil trend which led to upside continuation as shown on the oil example above.

The buy oil signal is when crude crude oil trading price breaks out above the upper ascending triangle pattern line and the oil market continues moving upwards - upward oil market oil trend continuation.