FX.co ★ Patterns SILVER | Silver Rate in the Forex market

The Double Bottom pattern has been formed on SILVER D1. Characteristics: the support level 29.64; the resistance level 31.48; the width of the pattern 1840 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 1875 points.

The Double Bottom pattern has been formed on SILVER D1. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 31.48 is broken. The further movements will rely on the width of the current pattern 1840 points.

According to the chart of M5, SILVER formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 30.65/30.53 whereas the lower border goes across 30.40/30.53. The pattern width is measured on the chart at 251 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 30.53 is broken, the price could continue its move toward 30.54.

The Bearish pennant pattern has formed on the SILVER M15 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 30.39, a trader will be able to successfully enter the sell position.

The Bearish pennant pattern has formed on the SILVER M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 30.42 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Bottom pattern has been formed on SILVER M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 30.56 is broken. The further movements will rely on the width of the current pattern 45 points.

The Double Bottom pattern has been formed on SILVER M5. Characteristics: the support level 30.52; the resistance level 30.56; the width of the pattern 45 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 45 points.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 30.68; the lower boundary 30.64; the width of the pattern is 40 points. Sell trades are better to be opened below the lower boundary 30.64 with a possible movements towards the 30.63 level.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 30.24; the lower boundary 30.22; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 30.22 with a possible movements towards the 30.20 level.

According to the chart of M30, SILVER formed the Inverse Head and Shoulder pattern. The Head’s top is set at 30.07 while the median line of the Neck is found at 29.61/30.00. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of SILVER will go towards 30.11