Open:
High:
Low:
Close:
FALLING WEDGE
Brent Oil
UKOIL
1H
There is a falling wedge taking place, the price is breaking out.
A falling wedge typically indicates a bullish move when price breaks out.
Brent-oil to have better chances of advancing to the 64 mark as outlook for the commodity stays positive.
DESCENDING CHANNEL
Silver
XAG/USD
1H
There is a descending channel arising and silver requests a further active move as a sign of a breakout.
In case if price breaks through the resistance, the move could indicate that the price will rally further.
Silver to head to 94 on a break above 91.5.
DESCENDING CHANNEL
Gold
XAU/USD
1H
There is a descending channel turning up and the price is close to breaking out.
A descending channel describes a technical price signal that typically signals an interruption of a downtrend if price breaks out.
A move towards 4620 looks possible as downside pressure alleviates.
DESCENDING CHANNEL
Platinum
XPT/USD
1H
There is a descending channel detected, the price needs a more steady bullish continuation as a clue of a breakout.
A descending channel denotes a reliable pattern that is used to spot a bullish move in case if price breaks out to the the upside.
A bullish run towards the 2450 zone is possible.
RECTANGLE
Gold
XAU/USD
1H
There is a rectangle developing and the price asks for a next steady move as proof of a breakdown.
A rectangle spots a sharp decline once price breaks out to the the downside.
There is a possibility of a bearish price action to 4580 on a breach of 4590.
ASCENDING CHANNEL
Gold
XAU/USD
4H
An ascending channel is detected.
When price breakdown occurs, the move could indicate a next move down.
Gold to maintain its negative tone towards the 4500 zone.
ASCENDING CHANNEL
Silver
XAG/USD
4H
An ascending channel has been observed and silver wants a next bigger move as a sign of a breakdown.
An ascending channel often spots a change in the prevailing trend once price breaks down.
Silver to resume its downfall towards 85 on a breakout of the ascending channel as bears look for entries.
ASCENDING CHANNEL
Crude Oil
USOIL
4H
An ascending channel occurs and the price is ready to break out.
An ascending channel identifies a reliable bearish pattern with an upward bias that can be used to spot an upward trend is nearing its end when price breaks below support.
Crude-oil to resume its downfall towards 59.
ASCENDING CHANNEL
Silver
XAG/USD
1H
An ascending channel has been revealed and the price demands an active move for clear breakdown confirmation.
Once price breaks below support, the move could identify extending an downtrend.
Silver to extend the fall towards 88 while below 89.
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