Platinum and Brent Oil: Potential Price Rise Ahead
The price of platinum is testing the resistance level of 950, which also acts as the middle point of the latest descending move. Since platinum tends to follow gold and silver, the price of this asset might potentially break resistance. It could also rebound from this level. Hence, it would be very important to follow the candlestick formations next to the resistance.
10-year treasury bond yield tested the level of 4,4%, underwent correction, and dropped, trying to form a shooting star at the end of the trading day. At that, a candle tail tested the middle point of the latest descending move (the 50% Fibonacci retracement level) and the upper level of the developing inverse flag. The yield might potentially drop to the level of 3,8%. So, let’s wait and see whether this scenario is going to work out.
The price of Brent oil is heading up and approaching the resistance area formed between the levels of 95 and 96 U.S. dollars per barrel. The price of this asset is likely to rebound from this area and undergo correction soon.
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