Open:
High:
Low:
Close:
PENNANT
Silver
XAG/USD
1H
A pennant is close to being done, the price is going to break out now.
Once price breaks out, the resulting move could predict that prices are likely to keep rallying upward.
It is not ruled out that a bullish price action towards 58.5 will take place.
FALLING WEDGE
Gold
XAU/USD
1H
It looks like a falling wedge has been discovered and the price is ready to break out soon.
A falling wedge describes a reliable bullish formation with a downward bias that typically predicts the more likely potential of rising prices if price breaks through the resistance.
A rangebound towards 4220 is a possibility while above 4200.
DESCENDING CHANNEL
Brent Oil
UKOIL
1H
Brent-oil gives a descending channel, the price requests a more strong bearish impulse as a verification of a breakdown.
A descending channel represents a useful bearish chart pattern that indicates extending an downtrend if price breaks below support.
It is not ruled out that extra downside towards the 62.5 level will occur.
RECTANGLE
Platinum
XPT/USD
1H
There is a rectangle exposed.
Once price breaks down, the resulting move could identify a sharp decline.
There is a probability of decline to the 1645 zone.
ASCENDING TRIANGLE
Silver
XAG/USD
1H
An ascending triangle is almost completed and the price is ready to break out.
An ascending triangle identifies a price action signal that predicts a move down if price breaks down.
There is a chance of a bearish move towards the 58 mark.
ASCENDING TRIANGLE
Platinum
XPT/USD
4H
An ascending triangle is close to being completed.
An ascending triangle typically predicts the more likely potential of falling prices once price collapses through the support line.
A bearish push down towards 1640 is possible while below 1655.
RISING WEDGE
Silver
XAG/USD
4H
A rising wedge appears.
A rising wedge depicts a price action formation that is used to identify a move down in case if price breaks out.
Corrective downside to 58 is going to happen on a downside break as bears look for entries.
DESCENDING TRIANGLE
Gold
XAU/USD
1H
We can see that a descending triangle has been discovered.
A descending triangle is considered to be a compelling bullish chart pattern that can be used to signal a move up if price breaks through the resistance.
Gold to move up to 4220 once beyond 4215 as the commodity nears 4215 hurdle.
DESCENDING TRIANGLE
Crude Oil
USOIL
1H
As we can see crude-oil forms a descending triangle and crude-oil calls for a next active impulse down as proof of a breakout.
A descending triangle suggests a reliable pattern that is used to predict prices are likely to keep falling downward once price breaks below support.
Extra downside to the 59.2 mark is on the way on impulse below 59.4 as bears looking for downside correction.
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