Open:
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DESCENDING CHANNEL
Platinum
XPT/USD
1H
A descending channel pops up and platinum requests a further active bullish impulse as evidence of a breakout.
A descending channel spots a bullish price move if price breaks through the resistance.
It is likely that a bullish push up to 1680 will take place.
FALLING WEDGE
Crude Oil
USOIL
1H
As we can see crude-oil shows a falling wedge and the price is ready to break out.
A falling wedge represents a technical chart formation that indicates a pause in a downtrending market in case if price breaks out.
Crude-oil opens door for a move to 75 once beyond 74.
RISING WEDGE
Gold
XAU/USD
1H
There is a rising wedge happening and gold demands a next strong move as a sign of a breakout.
A rising wedge identifies a bearish price move if price breaks below support.
There is a probability of a bearish push down to the 4160 mark once below 4180 as risk reversal sheds bullish bias.
DESCENDING TRIANGLE
Silver
XAG/USD
1H
There is a descending triangle poping up and the price is about to break out.
A descending triangle is believed to be a reliable pattern that typically indicates a move down once price breakdown occurs.
Silver hints a change to the downside to the 64 level on a break below 64.2.
BEARISH FLAG
Platinum
XPT/USD
1H
There is a bearish flag recognized, the price is ready to break out soon.
A bearish flag often results in that the price to go short once price breaks out to the the downside.
Platinum set to fall towards 1660.
ASCENDING CHANNEL
Silver
XAG/USD
1H
We can see that an ascending channel has been identified.
An ascending channel describes a technical bearish price signal that typically spots a bearish move once price breaks out to the the downside.
A bearish move to 64.5 is possible on a breakout of the ascending channel.
DESCENDING CHANNEL
Crude Oil
USOIL
4H
It looks like a descending channel is close to completion, the price is ready to break out.
A descending channel is a reliable bullish price action indicator that is used to identify a temporary interruption during a falling market if price breaks above resistance.
Crude-oil to resume its rise towards 80 on a breach of 75.
BEARISH FLAG
Gold
XAU/USD
1H
A bearish flag happens, the price is ready to break out soon.
A bearish flag indicates that the price to go short once price breakdown occurs.
Gold to extend its setback to the 4180 mark.
BEARISH FLAG
Silver
XAG/USD
1H
There is a bearish flag forming, the price breaks out now.
A bearish flag represents a useful bearish formation that is angled up that results in an interruption of an uptrend if price breaks out to the the downside.
It is likely that a further bearish move towards 65 will be made.
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