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

According to the chart of H1, SILVER formed the Inverse Head and Shoulder pattern. The Head’s top is set at 76.24 while the median line of the Neck is found at 71.97/75.31. 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 76.28

According to M30, SILVER is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 76.83/76.24 is broken out, the instrument is likely to move toward 76.27.

The Double Bottom pattern has been formed on SILVER M5. Characteristics: the support level 75.33; the resistance level 75.85; the width of the pattern 525 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 540 points.

The Triple Top pattern has formed on the chart of the SILVER M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 75.22/75.50 with the upper limit 76.08/76.24; the projection of the width is 850 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 75.22, the price is most likely to continue the downward movement.

The Double Top reversal pattern has been formed on SILVER M15. Characteristics: the upper boundary 76.08; the lower boundary 75.22; the width of the pattern is 800 points. Sell trades are better to be opened below the lower boundary 75.22 with a possible movements towards the 75.20 level.

According to the chart of M5, SILVER formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 72.05 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on SILVER M15. 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 73.88 is broken. The further movements will rely on the width of the current pattern 1905 points.

The Double Bottom pattern has been formed on SILVER M5; the upper boundary is 73.88; the lower boundary is 72.05. The width of the pattern is 1905 points. In case of a break of the upper boundary 73.88, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

On the chart of the SILVER M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 75.72, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 590 points.

According to M5, SILVER is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 76.83/76.42 is broken out, the instrument is likely to move toward 76.44.