Open:
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DESCENDING TRIANGLE
Brent Oil
UKOIL
1H
It looks like brent-oil creates a descending triangle and the price is about to break out.
Once price breaks out to the the upside, the resulting move could indicate an extension in the upward direction.
It is not ruled out that a bullish move towards the 109 zone will be made on a break above 108.5.
RISING WEDGE
Gold
XAU/USD
1H
A rising wedge develops.
Once price breaks out to the the downside, the resulting move could signal a next move down.
Gold pulls away from recent highs towards 4500 on a downside break.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
As we can see an ascending channel is almost completed and the price demands a next active move for clear breakout confirmation.
In case if price breaks below support, the resulting move could spot a change in price direction.
Crude-oil could attempt a move to 100 on a downside break as the commodity challenges 101 hurdle.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
An ascending channel is close to completion.
Once price breaks out to the the downside, the move could signal that the price to go down.
Brent-oil to move downward to the 106 zone.
PENNANT
Platinum
XPT/USD
1H
We can see that a pennant is determined, the price asks for a move as a verification of a breakout.
A pennant can be thought of as a compelling price signal that can be used to predict a bullish price move when price breaks through the resistance.
Platinum to surge considerably towards 1900 on a breakout of the pennant.
BEARISH FLAG
Silver
XAG/USD
1H
There is a bearish flag emerging, the price is ready to break out.
A bearish flag indicates the more likely potential of falling prices when price breaks out.
It is possible that a bearish run to the 67 zone will form.
BEARISH FLAG
Platinum
XPT/USD
1H
A bearish flag occurs.
A bearish flag provides a reliable price formation that is angled up that can be used to signal a bearish move if price breaks out to the the downside.
Platinum set to accelerate its decline to 1820.
DESCENDING CHANNEL
Brent Oil
UKOIL
4H
A descending channel arises, the price breaks out soon.
A descending channel can be thought of as a formation that has a downward slope that is used to identify a further move up when price breaks above resistance.
Brent-oil to enjoy a considerable gain to 115.
RECTANGLE
Crude Oil
USOIL
4H
It looks like a rectangle has been noticed and the price is close to breaking out soon.
A rectangle typically predicts the bears have run out of steam if price breaks out.
A bullish price action to the 105 level is a possibility.
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