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FALLING WEDGE
Silver
XAG/USD
1H
A falling wedge has been revealed, the price requires a next steady bullish impulse as an indication of a breakout.
A falling wedge depicts a specific signal that can be used to indicate a downward trend is nearing its end once price breaks above resistance.
It is possible that a rangebound to 58 will be made on a upside break.
PENNANT
Platinum
XPT/USD
1H
A pennant is close to being finished.
A pennant signals a further move down when price breaks out.
Platinum to move back to 1640 while below 1648 as the commodity loses bullish momentum.
RISING WEDGE
Gold
XAU/USD
1H
As we can see a rising wedge is observed and gold asks for a next bearish move to confirm a breakdown.
A rising wedge is said to depict a reliable bearish chart pattern that has an upward slope that often identifies the bulls have run out of steam in case if price collapses through the support line.
Gold set to plunge towards 4200 on a downside break as the commodity probes 4204 hurdle.
FALLING WEDGE
Silver
XAG/USD
1H
A falling wedge has been recognized.
A falling wedge is said to depict a specific chart formation that typically results in a move up if price breaks through the resistance.
It is possible that a move to the 57.5 level will take place while above 57.
DESCENDING TRIANGLE
Platinum
XPT/USD
1H
There is a descending triangle developing and platinum demands a next active bullish impulse as an indication of a breakout.
A descending triangle results in that the price to go long in case if price breaks out to the the upside.
Platinum to move upward to 1660.
DESCENDING CHANNEL
Brent Oil
UKOIL
1H
There is a descending channel identified, the price asks for a bit more consolidation to confirm descending channel breakout.
A descending channel is a reliable pattern that is angled down that typically spots a change in price direction in case if price breaks out.
It is possible that a bullish price action towards 63.4 will take place as the wind continues blowing in favor of the commodity.
SYMMETRICAL TRIANGLE
Brent Oil
UKOIL
1H
There is a symmetrical triangle taking place and the price is ready to break out now.
If price breaks through the resistance, the move could signal a next move up.
A bullish run towards 63.2 is going to happen on a breakout of the symmetrical triangle as the mood may improve.
PENNANT
Brent Oil
UKOIL
4H
As we can see a pennant is close to being complete and brent-oil expects a more steady impulse up as a signal of a breakout.
A pennant can be thought of as a technical bullish price action signal that can be used to predict that the price to go long in case if price breaks out to the the upside.
A rangebound to 63.5 is likely as downside pressure alleviates.
ASCENDING CHANNEL
Silver
XAG/USD
4H
It looks like an ascending channel is very close to being completed.
An ascending channel typically predicts a move down once price breaks below support.
Silver to experience further corrective weakness towards 56 as silver failes to keep gains.
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