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Platinum: Ascending Channel

XPT/USD, 1 hour    SHORT Oct 9
We can see that an ascending channel is close to completion and the price is about to break out soon. An ascending channel is a technical price action pattern that can be used to spot a change in the prevailing trend once price breaks out to the the downside. A bearish push down to 1640 is likely as the commodity keeps the bid tone.
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