Descending triangle for Light Sweet Crude Oil

Note: This section contains information in English only.
Source: Dukascopy Bank SA


A descending pattern has formed on Light Sweet Crude Oil. The current pattern suggests that a potential move to the downside may occur in the next few days, breaking outside of the pattern.

The descending triangle pattern may be considered a signal for a potential downward price movement.

If bearish momentum continues and the wedge pattern breaks to the downside, further price discovery towards 62.40 is plausible.

Current tensions in the Middle East could have a significant impact on the price of Light Sweet Crude Oil in the near term.
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