Open:
High:
Low:
Close:
BEARISH FLAG
Platinum
XPT/USD
1H
We can see that a bearish flag is close to completion and the price is about to break out.
Once price breaks through the support, the resulting move could predict the more likely potential of falling prices.
There is a probability of extra downside to the 2050 level.
PENNANT
Platinum
XPT/USD
1H
There is a pennant turning up.
A pennant provides a specific bearish chart signal that often predicts an extension in the downward direction in case if price breakdown occurs.
A bearish continuation towards 2200 looks likely.
RISING WEDGE
Platinum
XPT/USD
4H
There is a rising wedge uncovered.
A rising wedge spots that prices move counter to the prevailing price trend once price breaks out.
Platinum violates bullish trendline towards the 2000 mark on a break below 2100.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
Platinum composes an ascending channel and the price is close to breaking out.
In case if price breaks out to the the downside, the move could identify price heading to a new direction.
A bearish run to 2300 is on the way.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
The price develops an ascending channel, the price asks for a further strong bearish continuation to confirm a breakdown.
An ascending channel represents a compelling bearish indicator that can be used to spot a further move down if price collapses through the support line.
There is a chance of a rangebound towards the 2300 mark on a breach of 2400 amid the commodity recedes from recent highs.
RISING WEDGE
Platinum
XPT/USD
1H
There is a rising wedge turning up.
A rising wedge tends to be a bearish formation with an upward bias that is used to signal a change in the prevailing trend in case if price collapses through the support line.
A bearish price action towards 2400 is possible.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
An ascending channel is found and the price is about to break out now.
An ascending channel signals a trend change to the downside if price breaks out to the the downside.
It is possible that corrective downside to the 2200 level will be made amid rising bets for the move.
RISING WEDGE
Platinum
XPT/USD
1H
There is a rising wedge detected, the price is close to breaking out.
When price breaks through the support, the move could identify a further move down.
Platinum set to accelerate its decline to 2050 as there is a chance of further weakness.
SYMMETRICAL TRIANGLE
Platinum
XPT/USD
1H
The price shapes a symmetrical triangle, the price is ready to break out.
A symmetrical triangle typically predicts a sharp rise when price breaks above resistance.
There is a possibility of a bullish run to the 1980 mark.
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