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BEARISH FLAG
Platinum
XPT/USD
1H
There is a bearish flag taking place and platinum demands a next move as a verification of a breakdown.
A bearish flag depicts a compelling bearish chart pattern that typically results in that the price to go down if price collapses through the support line.
Platinum hints a change to the downside to the 1700 level as bears look for entries.
FALLING WEDGE
Platinum
XPT/USD
1H
We can see that platinum develops a falling wedge and platinum expects a further strong move as an information of a breakout.
A falling wedge represents a reliable bullish formation with a downward bias that is used to signal a move up if price breaks out to the the upside.
Platinum to extend its advance to 1730.
DESCENDING CHANNEL
Platinum
XPT/USD
1H
There is a descending channel developing, platinum wants strong rise as a clue of a breakout.
A descending channel is considered to be a specific price signal that can be used to spot a further move up in case if price breaks out to the the upside.
A further bullish push up to 1720 looks possible.
RECTANGLE
Platinum
XPT/USD
1H
It looks like the price shapes a rectangle.
A rectangle often indicates a next move down when price breaks out to the the downside.
There is a probability of a bearish move to the 1740 zone.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
The price develops an ascending channel and the price is ready to break out.
An ascending channel results in an upward trend is about to reverse into an downward trend if price breaks out to the the downside.
Platinum to head to 1750 while below 1760.
ASCENDING CHANNEL
Platinum
XPT/USD
1H
There is an ascending channel forming.
An ascending channel typically results in the bulls have run out of steam once price breaks below support.
There is a probability of a further rangebound towards the 1760 mark.
DESCENDING CHANNEL
Platinum
XPT/USD
1H
It seems like a descending channel is noticed, the price needs a more active bullish move for clear breakout confirmation.
A descending channel often identifies a next move up once price breaks out.
It is possible that a move towards 1770 will form on a breakout of the descending channel.
RECTANGLE
Platinum
XPT/USD
4H
There is a rectangle taking place.
In case if price breaks through the support, the move could indicate a next move down.
Platinum tests a move to 1740 as indicators favor bears.
ASCENDING CHANNEL
Platinum
XPT/USD
1D
There is an ascending channel materializing and platinum requires a steady move as a signal of a breakdown.
Once price collapses through the support line, the resulting move could predict price heading to a new direction.
It is possible that corrective downside to 1700 will happen.
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