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DESCENDING CHANNEL
Platinum
XPT/USD
1H
There is a descending channel discovered, the price is breaking out.
A descending channel is believed to be a useful price action signal that is used to predict a next move up once price breaks out.
A bullish run towards the 2100 zone is likely.
ASCENDING CHANNEL
Brent Oil
UKOIL
1H
An ascending channel pops up and the price wants a next active move to confirm a breakdown.
If price collapses through the support line, the move could spot a bullish-to-bearish trend reversal.
Brent-oil to fall towards 98 as gains remain capped.
RISING WEDGE
Brent Oil
UKOIL
1H
There is a rising wedge arising, the price demands a further bearish continuation to confirm rising wedge breakout.
If price breakdown occurs, the move could identify that the price to go short.
Brent-oil set to accelerate its decline towards 95 while below 100.
PENNANT
Platinum
XPT/USD
1D
As we can see a pennant is almost done, platinum needs a next move as an information of a breakdown.
A pennant is considered to be a price action signal that can be used to predict prices are likely to keep falling downward if price breaks through the support.
Platinum to slide towards the 2000 mark once below 2100 as the commodity nears 2100 hurdle.
DESCENDING TRIANGLE
Platinum
XPT/USD
4H
There is a descending triangle identified, the price is breaking out.
A descending triangle typically indicates a bearish price move in case if price breaks down.
Platinum does not rule out a move towards the 2000 mark.
DESCENDING TRIANGLE
Silver
XAG/USD
4H
It looks like silver shapes a descending triangle, the price is going to break out now.
A descending triangle is a useful chart formation that spots extending an downtrend if price breaks out.
A bearish continuation towards 80 looks probable on a breakout of the descending triangle.
DESCENDING TRIANGLE
Gold
XAU/USD
4H
There is a descending triangle arising and the price is about to break out.
When price breaks through the support, the move could signal the more likely potential of falling prices.
There is a probability of a bearish price action towards the 5050 level as there is a chance for a downside correction.
FALLING WEDGE
Gold
XAU/USD
1H
There is a falling wedge observed and the price breaks out now.
A falling wedge denotes a reliable signal that can be used to predict that prices are likely to keep rallying upward in case if price breaks through the resistance.
A bullish price action to 5100 looks likely as weakness seen overdone.
RISING WEDGE
Crude Oil
USOIL
1H
There is a rising wedge discovered.
A rising wedge suggests a compelling chart formation that spots a bearish move once price breaks below support.
A bearish run towards the 94 level is not ruled out on a breach of 96 as weakness continues.
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