What Does Descending Triangle Crude Oil Trading Chart Pattern Mean?

Falling Wedge Crude Oil Trading Chart Pattern

The descending triangle oil chart pattern in oil is formed in a downward oil trend & it shows that the downward direction of crude oil price movement is going to continue.

Descending triangle oil pattern is a continuation oil chart pattern that signals the current downwards oil market oil trend is going to continue.

Descending triangle oil pattern is also known as falling wedge oil chart pattern.

Descending triangle oil chart pattern shows that there is a support level that the sellers keep pushing each time moving this support level lower, and once it breaks crude crude oil price will continue to move downwards.

A downside penetration of the lower line of the descending triangle oil chart pattern is a technical sell oil signal for a market breaking down from a descending triangle, & it indicates selling will follow.

What Happens To Oil Trading Price Action After Falling Wedge Descending Triangle Crude Oil Trading Chart Pattern in Oil?

The oil market formed a descending triangle oil chart pattern during its downward oil trend which led to further selling & continuation of the oil downward market trend.

The technical sell oil signal is when crude crude oil trading price breaks-out the lower horizontal sloping line of the descending triangle pattern and selling resumes to push the crude oil market price lower – continuation of the downward crude oil trend.