Bullish price action on precious metals - What lies ahead?

The commodity/ currency market has generated some decisive price action last Friday. A quick chart check below to keep you on the right side of the trade.

✅ Gold, Silver, Platinum : All 3 precious metals seem to be moving in tandem showing similar positive price action last Friday. All 3 had an emphatic breakout above a small narrow range within a larger 1-2-3 bottom pattern. Strong probability of a bullish breakout from the pattern shortly.

Daily chart of Silver Futures showing a 1-2-3 bottom formation

Daily chart of Gold Futures showing a 1-2-3 bottom formation

✅ Crude : Big break out from a 15 day range last Thursday followed by a narrow range candle the next day. Chart look strong but there could be some consolidation before the next big move.

Daily chart of WTI Crude Futures showing a breakout from range followed by a narrow range candle

✅ EuroUSD : A mild breakdown from a massive 1-2-3 formation last Thursday. However, a doji formed the next day signifying lack of selling momentum and a probable sell failure. If it plays out, the price could move northward with speed and aggression.

Daily chart of EuroUSD Futures showing a doji after a 1-2-3 top breakdown signifying a possible sell failure

Only time can tell how the bullish formations play out in the coming week.

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