Open:
High:
Low:
Close:
DESCENDING CHANNEL
Platinum
XPT/USD
1H
There is a descending channel developing.
A descending channel tends to be a reliable bullish indicator that results in the bears have run out of steam in case if price breaks above resistance.
A further bullish push up towards the 1660 zone is possible as there is a chance for a upside correction.
RECTANGLE
Platinum
XPT/USD
1D
A rectangle is close to completion, platinum wants a move as a verification of a breakdown.
A rectangle denotes a bearish signal that typically signals the more likely potential of falling prices in case if price breaks out.
There is a chance of a further bearish price action towards 1650.
DESCENDING CHANNEL
Silver
XAG/USD
1H
As we can see the price shapes a descending channel.
When price breaks above resistance, the move could predict a change in price direction.
It is possible that a bullish price action to 60.5 will take place on a upside break as indicators turn bullish.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
An ascending channel is close to being completed and the price is about to break out now.
When price breaks out, the move could signal a temporary interruption of an existing trend.
Corrective downside towards 99 is likely to happen as the commodity is at a brink of a bearish breakout.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle developing, the price expects a further active move to confirm a breakout.
A rectangle typically identifies a next move down when price breaks through the support.
Gold to extend the fall to 4100.
RISING WEDGE
Crude Oil
USOIL
1H
It seems like a rising wedge is close to being done and the price breaks out.
A rising wedge typically predicts a trend change to the downside in case if price breakdown occurs.
Crude-oil to slump towards 89 on a breakout of the rising wedge.
FALLING WEDGE
Crude Oil
USOIL
4H
Crude-oil composes a falling wedge.
If price breaks above resistance, the resulting move could indicate the more likely potential of rising prices.
Crude-oil to move upward to the 91 zone on a breach of 90.5 as door open for a test of 91.
ASCENDING CHANNEL
Gold
XAU/USD
1H
An ascending channel has been determined, the price asks for a further steady correction to confirm a breakout.
An ascending channel often spots a potential reversal in price action when price breaks out to the the downside.
Gold looks for a setback towards the 4120 mark.
DESCENDING TRIANGLE
Platinum
XPT/USD
4H
There is a descending triangle found.
A descending triangle provides a compelling bearish price formation that can be used to spot that the price to go short once price breaks out.
There is a probability of a bearish continuation towards the 1680 level as downtrend may continue.
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