Open:
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Brent Oil: Bearish Flag
UKOIL,
1 hour
SHORT
Jan 31
We can see that a bearish flag turns up, UKOIL requires a more move as a signal of a breakdown.
A bearish flag tends to be a specific formation that has an upward slope that can be used to spot a breakdown is likely to occur when price collapses through the support line.
UKOIL risks further downside to 81.5 on a breach of 81.7 amid the commodity recedes from tops.
Gold: Rising Wedge
XAU/USD,
1 hour
SHORT
Feb 2
There is a rising wedge spotted.
A rising wedge predicts a next move down once price breaks below support.
It is possible that a further rangebound towards the 2070 mark will happen.
Crude Oil: Ascending Channel
USOIL,
4 hours
SHORT
Dec 27
An ascending channel is close to completion, USOIL wants a more active bearish action for the certainty of breakout.
An ascending channel provides a useful signal that typically identifies that the price to go short in case if price breakdown occurs.
USOIL still risks a move to the 73 zone.
Gold: Ascending Channel
XAU/USD,
1 hour
SHORT
Nov 6
As we can see the price shows an ascending channel, the price lacks a more strong move as proof of a breakdown.
An ascending channel is said to depict a useful pattern that has an upward slope that is used to signal a move down in case if price breaks below support.
A further move to the 1985 zone is about to happen on a breakdown of the ascending channel.
Gold: Descending Channel
XAU/USD,
1 hour
LONG
Sep 14
A descending channel is diagnosed, XAU/USD needs a bullish continuation as a sign of a breakout.
A descending channel is said to depict a chart formation that has a downward slope that spots a bullish move once price breaks out.
XAU/USD violates bearish trendline to 1935 as extra rangebound not ruled out.
Platinum: Rising Wedge
XPT/USD,
1 hour
SHORT
Mar 23
There is a rising wedge exposed and the price is ready to break out soon.
A rising wedge often predicts a break in the price direction if price collapses through the support line.
XPT/USD set to accelerate its decline to the 980 level on a downside break.
Gold: Descending Channel
XAU/USD,
1 hour
LONG
Sep 14
There is a descending channel occuring and XAU/USD requires a more bullish impulse as a sign of a breakout.
When price breaks above resistance, the move could spot a downward trend is nearing its end.
It is not ruled out that a bullish move to 1934 will take place once above 1933.
Brent Oil: Descending Channel
UKOIL,
4 hours
LONG
Mar 7
It seems like a descending channel is close to being completed.
Once price breaks through the resistance, the move could spot a tendency to break in the opposite direction.
UKOIL tests a move towards the 84 mark.
Crude Oil: Descending Channel
USOIL,
1 hour
LONG
Jan 11
The price establishes a descending channel, the price expects a further move for the certainty of breakout.
A descending channel identifies a potential reversal in price action once price breaks above resistance.
USOIL to increase bullish potential towards the 73.5 level once beyond 72.9.
Gold: Bullish Rectangle
XAU/USD,
1 hour
LONG
Nov 16
There is a bullish rectangle uncovered, XAU/USD lacks an active move for the certainty of breakout.
A bullish rectangle depicts a reliable price action pattern that indicates that prices are likely to keep rallying upward in case if price breaks above resistance.
A rangebound towards 1978 is likely on a breakout of the bullish rectangle.
Silver: Rising Wedge
XAG/USD,
4 hours
SHORT
Jan 31
There is a rising wedge forming, XAG/USD requests a more active move as a verification of a breakout.
A rising wedge typically indicates a change in the prevailing trend once price breaks out.
There is a probability of a bearish move to 23.2 while below 23.2.
Silver: Ascending Channel
XAG/USD,
1 hour
SHORT
Dec 28
An ascending channel comes out.
An ascending channel is believed to be a technical bearish chart pattern that has an upward slope that often indicates the bulls have run out of steam when price breaks out to the the downside.
Decline towards 24.5 is a possibility.