Open:
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Close:
Silver: Bullish Rectangle
XAG/USD,
1 hour
LONG
Nov 28
There is a bullish rectangle coming out and the price is about to break out.
A bullish rectangle results in the bears have run out of steam once price breaks above resistance.
XAG/USD to grind higher to the 24.9 mark.
Platinum: Pennant
XPT/USD,
1 hour
SHORT
May 1
It seems like a pennant is close to completion.
A pennant typically predicts the bulls have run out of steam once price breaks through the support.
XPT/USD risks extra losses towards 1075.
Crude Oil: Ascending Channel
USOIL,
4 hours
SHORT
Dec 28
We can see that an ascending channel materializes, the price requests a next bigger move as a signal of a breakout.
When price collapses through the support line, the move could identify a change in the prevailing trend.
It is not ruled out that a bearish push down towards 73.5 will occur.
Silver: Falling Wedge
XAG/USD,
1 hour
LONG
Oct 27
A falling wedge is almost done and the price requests a strong bullish continuation as an information of a breakout.
A falling wedge often predicts a change in the prevailing trend once price breaks above resistance.
XAG/USD is bullish and en route towards 23 on a breakout of the falling wedge as extra rangebound not ruled out.
Gold: Rectangle
XAU/USD,
1 hour
SHORT
May 11
It looks like a rectangle emerges and XAU/USD wants a bigger move as an information of a breakout.
A rectangle is a specific bearish price action signal that identifies the bulls have run out of steam if price breaks below support.
Decline towards the 2032 level is not ruled out on impulse below 2033.5.
Crude Oil: Rising Wedge
USOIL,
1 hour
SHORT
Feb 20
There is a rising wedge taking place.
Once price breakdown occurs, the resulting move could signal that the price to go down.
It is not ruled out that a bearish push down towards 78.5 will happen.
Silver: Descending Triangle
XAG/USD,
1 hour
LONG
Mar 10
We can see that XAG/USD establishes a descending triangle, the price expects a more bullish action as a sign of a breakout.
In case if price breaks out to the the upside, the move could indicate a further move up.
XAG/USD points to the upside to 20.1 amid rising bets for the move.
Brent Oil: Bearish Flag
UKOIL,
1 hour
SHORT
Nov 15
We can see that a bearish flag is determined, the price expects a more strong move as an indication of a breakdown.
In case if price breaks through the support, the move could predict price reversal after a pause.
UKOIL to slump to the 81 zone once below 82.2.
Silver: Rectangle
XAG/USD,
1 hour
LONG
Apr 11
A rectangle is nearing completion.
A rectangle is considered to be a technical chart signal that often signals a move up when price breaks above resistance.
A bullish run towards 25.15 is on the way.
Silver: Descending Triangle
XAG/USD,
1 hour
LONG
Apr 4
There is a descending triangle discovered and the price is ready to break out now.
A descending triangle provides a bullish pattern that often signals an extension in the upward direction if price breaks out to the the upside.
XAG/USD is bullish and en route towards 24.2.
Platinum: Ascending Channel
XPT/USD,
1 day
SHORT
Jan 11
We can see that an ascending channel is close to being completed and the price requests more pullback as an information of a breakout.
An ascending channel denotes a reliable chart signal that often results in a next move down in case if price breaks down.
XPT/USD does not rule out a move towards the 900 zone while lower than 920 as risk reversal sheds bullish bias.
Silver: Falling Wedge
XAG/USD,
1 hour
LONG
Oct 17
It looks like the price gives a falling wedge.
A falling wedge suggests a technical pattern that can be used to identify a sharp rise in case if price breaks above resistance.
A bullish continuation towards the 22.75 zone is about to happen.