Open:
High:
Low:
Close:
ASCENDING CHANNEL
Gold
XAU/USD
1H
An ascending channel is identified and gold needs a bigger bearish move for clear breakdown confirmation.
When price breaks through the support, the resulting move could predict a trend change to the downside.
Gold tests a move to the 4500 zone on a breach of 4540 as gold probes 4540 hurdle.
FALLING WEDGE
Crude Oil
USOIL
1H
A falling wedge is almost completed.
When price breaks out, the move could signal a bullish price action.
A bullish continuation towards 89 looks probable.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
An ascending channel is almost finished.
An ascending channel often signals a bearish move once price breakdown occurs.
There is a chance of a rangebound towards the 1900 level while lower than 1960.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
There is an ascending channel developing, the price is ready to break out soon.
An ascending channel represents a specific chart signal that can be used to spot that the price to go short in case if price breaks out.
There is a possibility of a move to the 96 zone as bears look for entries.
BEARISH FLAG
Crude Oil
USOIL
1H
The price builds a bearish flag and crude-oil lacks a more active move to confirm bearish flag breakout.
A bearish flag indicates a next move down when price breaks out to the the downside.
Crude-oil set to accelerate its decline to the 86 level while below 88.
ASCENDING CHANNEL
Brent Oil
UKOIL
4H
There is an ascending channel detected, the price is breaking out.
An ascending channel identifies the more likely potential of falling prices once price breaks down.
It is not ruled out that a move to the 95 level will occur.
DESCENDING CHANNEL
Silver
XAG/USD
4H
It seems like a descending channel is close to being completed.
In case if price breaks above resistance, the move could spot a bearish-to-bullish trend reversal.
There is a possibility of a rangebound towards the 75 mark.
PENNANT
Gold
XAU/USD
1H
There is a pennant developing.
Once price breaks above resistance, the move could identify that the price to go up.
Gold is bullish and en route towards 4450 on a breakout of the pennant.
BEARISH FLAG
Crude Oil
USOIL
1H
There is a bearish flag materializing, the price is about to break out.
A bearish flag represents a reliable formation that is used to spot that the price to go down when price breakdown occurs.
A move to the 88 mark looks probable as the commodity challenges 89.5 hurdle.
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