Open:
High:
Low:
Close:
DESCENDING TRIANGLE
Platinum
XPT/USD
1H
There is a descending triangle identified.
In case if price breaks out, the resulting move could predict extending an uptrend.
Platinum challenges a move to 1620 as weakness seen overdone.
DESCENDING CHANNEL
Platinum
XPT/USD
1H
As we can see the price composes a descending channel, the price is going to break out.
A descending channel signals a countertrend succeeding the current trend in case if price breaks out.
It is not ruled out that a bullish price action towards the 1600 level will form.
ASCENDING CHANNEL
Platinum
XPT/USD
4H
It looks like an ascending channel is determined and the price expects fall for the certainty of breakout.
An ascending channel identifies a useful bearish price pattern that can be used to signal a bearish move if price breaks out.
There is a chance of a bearish move towards the 1600 mark.
RISING WEDGE
Platinum
XPT/USD
1H
It seems like a rising wedge has been found and the price is about to break out soon.
A rising wedge suggests a price action formation that can be used to predict price reversal after a pause once price breaks out.
Platinum risks suffer setback to 1640.
FALLING WEDGE
Platinum
XPT/USD
1H
There is a falling wedge spotted and the price requires more active push up for the certainty of breakout.
Once price breaks through the resistance, the move could spot a bullish move.
A bullish run to 1620 is on the cards on a breach of 1614.
SYMMETRICAL TRIANGLE
Platinum
XPT/USD
4H
There is a symmetrical triangle coming out and the price wants bigger push up as a verification of a breakout.
A symmetrical triangle denotes a bullish chart indicator that can be used to signal extending an uptrend if price breaks through the resistance.
There is a chance of a further bullish move to 1640 on impulse above 1630 as door open for a test of 1640.
RECTANGLE
Platinum
XPT/USD
1H
A rectangle is close to completion and the price asks for strong fall as proof of a breakout.
A rectangle tends to be a price action indicator that predicts a bearish price move when price breakdown occurs.
Platinum to increase bearish potential to the 1590 mark.
PENNANT
Platinum
XPT/USD
4H
The price builds a pennant, platinum needs a bigger bearish move to confirm a breakdown.
A pennant depicts a reliable price action formation that is used to identify the more likely potential of falling prices in case if price breaks down.
There is a probability of decline towards the 1600 level.
BULLISH FLAG
Platinum
XPT/USD
1H
There is a bullish flag recognized, the price is ready to break out soon.
A bullish flag is believed to be a specific chart formation that is used to predict price heading to a new direction once price breaks above resistance.
Platinum now looks towards 1640 on a breakout of the bullish flag.
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