Open:
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FALLING WEDGE
Crude Oil
USOIL
1H
There is a falling wedge uncovered.
A falling wedge can be thought of as a compelling chart indicator that results in that the price to go long in case if price breaks through the resistance.
A rangebound to 75 looks likely on a breach of 74.5.
RECTANGLE
Crude Oil
USOIL
1H
A rectangle has been exposed and the price demands a bigger move for clear breakdown confirmation.
If price breaks out, the resulting move could spot a sharp decline.
It is likely that a rangebound towards the 73 zone will form on impulse below 73.6.
FALLING WEDGE
Bitcoin
BTC/USD
1H
The price establishes a falling wedge and the price is about to break out now.
A falling wedge is a useful bullish formation that signals a bullish price move once price breaks through the resistance.
Btcusd hints a change to the upside to 64500 on a breakout of the falling wedge.
DESCENDING TRIANGLE
Bitcoin
BTC/USD
4H
We can see that btcusd shows a descending triangle, the price calls for a more steady bearish impulse for clear breakout confirmation.
A descending triangle typically results in a bearish price move if price collapses through the support line.
Btcusd opens door for a move towards 63000 on a breakout of the descending triangle as upside pressure seen easing.
BEARISH RECTANGLE
Crude Oil
USOIL
1H
It seems like a bearish rectangle is nearing completion, the price breaks out.
A bearish rectangle describes a specific bearish price formation that is used to identify a next move down when price breaks down.
Crude-oil to experience further corrective weakness towards 74.
ASCENDING CHANNEL
Gold
XAU/USD
4H
There is an ascending channel forming.
An ascending channel often identifies prices are likely to keep falling downward in case if price breaks out to the the downside.
Gold to increase bearish potential to 4200 as bears seeking a new low.
RECTANGLE
EUR/USD
1H
A rectangle forms.
A rectangle is believed to be a useful price action indicator that often results in that the price to go down once price breaks down.
There is a probability of a move to 1.158.
ASCENDING CHANNEL
Gold
XAU/USD
1H
It seems like gold develops an ascending channel and the price is ready to break out soon.
An ascending channel depicts a useful bearish price action pattern that is used to signal the more likely potential of falling prices if price collapses through the support line.
Gold risks extending drop towards the 4330 mark as the commodity challenges 4335 hurdle.
BEARISH FLAG
EUR/USD
4H
A bearish flag has been observed and the price expects bigger fall as proof of a breakdown.
A bearish flag is considered to be a price formation that is used to identify extending an downtrend if price breaks out.
Eurusd now looks towards 1.156 while below 1.158.
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