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DESCENDING CHANNEL
Platinum
XPT/USD
1H
It looks like platinum develops a descending channel and platinum demands a bit more consolidation as a verification of a breakout.
A descending channel is considered to be a compelling bullish chart formation that often indicates that the price to go up when price breaks out.
There is a probability of a bullish push up towards 2040 on a breach of 2035.
DESCENDING TRIANGLE
Platinum
XPT/USD
4H
As we can see a descending triangle has been encountered, platinum lacks a move as an indication of a breakout.
A descending triangle typically results in an extension in the upward direction when price breaks through the resistance.
A further bullish move towards 2050 is possible.
DESCENDING CHANNEL
Platinum
XPT/USD
1H
A descending channel occurs, the price expects a further strong move as an information of a breakout.
A descending channel is believed to be a bullish pattern that is angled down that predicts that prices move counter to the prevailing price trend once price breaks out.
Platinum to resume its rise towards the 2040 mark.
BULLISH FLAG
Platinum
XPT/USD
1H
There is a bullish flag uncovered.
A bullish flag represents a specific price formation that is used to signal a temporary interruption during a falling market when price breaks above resistance.
Platinum to increase bullish potential to 2040.
SYMMETRICAL TRIANGLE
Platinum
XPT/USD
1H
There is a symmetrical triangle occuring, the price asks for a next move as a verification of a breakout.
A symmetrical triangle can be thought of as a compelling chart formation that is used to indicate the bulls have run out of steam when price breakdown occurs.
Platinum to experience further corrective weakness to 2000.
BEARISH FLAG
Platinum
XPT/USD
1H
As we can see a bearish flag is recognized, the price breaks out soon.
A bearish flag typically predicts a bearish price move in case if price breakdown occurs.
Decline to 2040 is not ruled out.
SYMMETRICAL TRIANGLE
Platinum
XPT/USD
1H
As we can see a symmetrical triangle is close to being complete, platinum calls for a next steady move as an indication of a breakout.
A symmetrical triangle tends to be a specific price pattern that can be used to indicate a further move up if price breaks out to the the upside.
There is a probability of a move towards the 2100 zone once above 2080 as platinum is at a brink of a bullish breakout.
RECTANGLE
Platinum
XPT/USD
1H
We can see that a rectangle is very close to being completed and the price is ready to break out.
A rectangle is believed to be a reliable signal that typically results in extending an downtrend in case if price breaks out.
There is a chance of a further bearish continuation to the 2080 mark on a breakout of the rectangle.
ASCENDING TRIANGLE
Platinum
XPT/USD
1H
An ascending triangle appears and the price needs a further strong bearish action as a clue of a breakdown.
An ascending triangle typically spots the bulls have run out of steam once price breaks through the support.
It is likely that a rangebound towards 2080 will happen on a breakout of the ascending triangle as bearish momentum increases.
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