Open:
High:
Low:
Close:
DESCENDING TRIANGLE
Gold
XAU/USD
1H
A descending triangle is close to being completed, gold expects a bigger correction as an information of a breakout.
When price collapses through the support line, the move could signal an extension in the downward direction.
It is not ruled out that a bearish continuation towards the 4380 zone will be made on a breakout of the descending triangle.
BULLISH FLAG
Crude Oil
USOIL
1H
We can see that the price composes a bullish flag.
A bullish flag often signals a bullish price action once price breaks through the resistance.
Crude-oil to move upward to 83 on a breakout of the bullish flag.
PENNANT
Bitcoin
BTC/USD
1H
We can see that a pennant is exposed.
In case if price breaks above resistance, the resulting move could predict a bullish move.
There is a probability of a rangebound to the 64000 zone.
DESCENDING CHANNEL
GBP/USD
1H
There is a descending channel uncovered and the price calls for a next move to confirm a breakout.
Once price breaks out to the the upside, the resulting move could indicate a downward trend is about to reverse into an upnward trend.
It is not ruled out that a bullish continuation to 1.351 will take place.
PENNANT
Bitcoin
BTC/USD
1H
A pennant takes place.
A pennant is considered to be a specific bearish chart indicator that typically indicates a move down in case if price breaks below support.
Extra downside towards 63400 is on the cards on impulse below 63500.
RISING WEDGE
USD/JPY
4H
It looks like a rising wedge is recognized, the price is ready to break out.
A rising wedge is considered to be a useful pattern that is used to predict a bearish price action in case if price breaks out.
Usdjpy set to plunge to 159 while below 159.2 as the currency pair probes 159.2 hurdle.
RISING WEDGE
USD/JPY
1H
A rising wedge comes out.
A rising wedge identifies a move down if price breaks down.
Usdjpy to maintain its negative tone towards 159.2 as the currency pair nears 159.3 hurdle.
FALLING WEDGE
Crude Oil
USOIL
1H
We can see that a falling wedge has been determined, crude-oil needs a next strong bullish impulse to confirm a breakout.
If price breaks out, the resulting move could indicate an extension in the upward direction.
There is a possibility of a bullish continuation to 83 as outlook for the commodity stays positive.
ASCENDING CHANNEL
Gold
XAU/USD
1H
There is an ascending channel developing, the price is going to break out.
An ascending channel is said to depict a useful bearish pattern that has an upward slope that can be used to spot a further move down once price breaks out to the the downside.
Gold could recede to 4400 on a breakout of the ascending channel.
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