Open:
High:
Low:
Close:
PENNANT
Platinum
XPT/USD
4H
A pennant is almost completed.
A pennant identifies a compelling bearish pattern that can be used to identify a sharp decline when price breaks through the support.
Platinum looks for a setback to the 1560 zone on a breakout of the pennant.
FALLING WEDGE
Platinum
XPT/USD
1H
A falling wedge is encountered and the price calls for a further move for clear breakout confirmation.
A falling wedge spots a change in price direction in case if price breaks through the resistance.
It is not ruled out that a further bullish push up to 1600 will take place on a breach of 1590.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
It seems like the price creates an ascending channel, platinum lacks next bigger push down for clear breakdown confirmation.
An ascending channel tends to be a useful bearish price signal that identifies a bearish move in case if price breaks below support.
Platinum opens door for a move to 1600.
ASCENDING TRIANGLE
Platinum
XPT/USD
1H
As we can see an ascending triangle is nearing completion and the price is going to break out.
An ascending triangle describes a useful bullish chart pattern that often predicts a further move up once price breaks out.
A bullish price action to the 1640 level is a possibility while above 1625.
BEARISH FLAG
Platinum
XPT/USD
1H
As we can see a bearish flag is close to completion and the price is breaking out.
Once price breaks out, the move could predict an extension in the downward direction.
Further decline to the 1560 mark is likely to happen.
DESCENDING CHANNEL
Platinum
XPT/USD
4H
There is a descending channel occuring.
A descending channel typically results in that the price to go long when price breaks above resistance.
There is a possibility of a bullish continuation towards the 1650 level.
DESCENDING CHANNEL
Platinum
XPT/USD
1H
A descending channel is observed.
A descending channel typically identifies that the price will rally further in case if price breaks out to the the upside.
It is possible that a bullish push up to 1600 will happen.
SYMMETRICAL TRIANGLE
Platinum
XPT/USD
1H
There is a symmetrical triangle detected, the price is close to breaking out soon.
A symmetrical triangle suggests a specific chart signal that is used to predict that the price to go short in case if price breaks out to the the downside.
A bearish continuation to the 1630 level looks possible.
FALLING WEDGE
Platinum
XPT/USD
4H
As we can see a falling wedge has been diagnosed, platinum requests a move for the certainty of breakout.
A falling wedge can be thought of as a useful bullish signal that often identifies a break during a downtrending market in case if price breaks through the resistance.
Platinum to strengthen to the 1700 mark.
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