Open:
High:
Low:
Close:
DESCENDING CHANNEL
Brent Oil
UKOIL
1H
It seems like the price completes a descending channel, the price lacks a further move as an indication of a breakout.
If price breaks out, the move could spot a countertrend succeeding the current trend.
A further bullish push up to 62.5 is on the cards on a breach of 62.1.
ASCENDING TRIANGLE
Gold
XAU/USD
1H
There is an ascending triangle exposed and the price needs next fall for the certainty of breakout.
An ascending triangle typically predicts a bearish price action once price breaks out.
Gold to prolong the corrective phase towards 4190.
PENNANT
Crude Oil
USOIL
1H
A pennant materializes and the price is ready to break out now.
A pennant can be thought of as a technical chart indicator that results in a next move down if price breaks out to the the downside.
There is a possibility of corrective downside to 58 as bears look for entries.
ASCENDING CHANNEL
Platinum
XPT/USD
4H
There is an ascending channel identified, the price requires a more steady bearish action for the certainty of breakdown.
An ascending channel often predicts a move down once price breaks out.
Platinum risks a move to 1640.
ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel exposed, the price requests a further bigger move as a signal of a breakdown.
An ascending channel identifies a bearish price move when price breaks through the support.
There is a chance of a bearish move towards 60 on a breakdown of the ascending channel.
DESCENDING CHANNEL
Crude Oil
USOIL
1H
We can see that a descending channel is very close to being finished, the price breaks out now.
Once price breaks out to the the upside, the resulting move could spot a breakout higher.
Crude-oil to maintain its positive tone towards the 58.8 mark.
DESCENDING CHANNEL
Brent Oil
UKOIL
1H
We can see that a descending channel arises and the price is ready to break out.
When price breaks above resistance, the resulting move could spot a breakout higher.
Brent-oil violates bearish trendline to 62.5 as the mood may improve.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
It seems like an ascending channel is discovered, platinum needs a bigger bearish action to confirm ascending channel breakdown.
In case if price breaks out, the resulting move could indicate an interruption of an uptrend.
Platinum turns lower towards the 1670 level on a downside break.
ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel coming out, silver calls for a further bigger move as proof of a breakout.
An ascending channel signals a break in the price direction when price collapses through the support line.
There is a chance of corrective downside towards 60 as upside pressure alleviates.
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