Open:
High:
Low:
Close:
FALLING WEDGE
Gold
XAU/USD
4H
It seems like a falling wedge takes place, the price is about to break out now.
A falling wedge provides a useful bullish signal that is used to predict that the price will rally further once price breaks above resistance.
There is a possibility of a rangebound to 4180 while above 4170.
DESCENDING CHANNEL
Brent Oil
UKOIL
1H
There is a descending channel detected, the price requires a next move as proof of a breakout.
A descending channel identifies a bullish price action formation that often results in a move up once price breaks out to the the upside.
Brent-oil to surge considerably towards 107.
BULLISH FLAG
Crude Oil
USOIL
1H
There is a bullish flag forming.
If price breaks above resistance, the move could spot a bullish price action.
It is not ruled out that a bullish run towards 95.5 will take place on a breakout of the bullish flag.
RECTANGLE
Crude Oil
USOIL
1H
A rectangle turns up.
A rectangle denotes a useful bearish price action pattern that is used to signal an extension in the downward direction when price breaks through the support.
There is a probability of a bearish run to the 93 zone.
ASCENDING CHANNEL
Brent Oil
UKOIL
4H
There is an ascending channel exposed.
An ascending channel is said to depict a compelling bearish price action pattern that has an upward slope that can be used to spot a bearish price move in case if price breaks out to the the downside.
Brent-oil to maintain its negative tone to 102.
DESCENDING CHANNEL
Gold
XAU/USD
1H
A descending channel is close to being done.
In case if price breaks above resistance, the resulting move could signal that the price to go up.
A bullish push up towards the 4160 level is on the way as gold probes 4155 hurdle.
ASCENDING CHANNEL
Crude Oil
USOIL
1H
There is an ascending channel turning up and crude-oil wants an impulse down as an information of a breakout.
In case if price breaks out to the the downside, the move could indicate a sharp decline.
Crude-oil pulls back to 94.5.
RISING WEDGE
Crude Oil
USOIL
4H
There is a rising wedge encountered.
A rising wedge depicts a bearish price action pattern that has an upward slope that can be used to signal that the price to go short when price breaks out to the the downside.
Crude-oil could recede to 92.
PENNANT
Brent Oil
UKOIL
1H
A pennant pops up, the price is ready to break out now.
A pennant denotes a price signal that typically indicates a move down in case if price breaks through the support.
Decline towards 105.5 is on the cards while below 105.9 as bears seeking a new low.
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