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

The Bearish pennant pattern has formed on the SILVER M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 30.20; the projection of the flagpole height is equal to 385 pips. In case the price breaks out the pattern’s bottom of 30.20, the downtrend is expected to continue for further level 30.18.

According to the chart of M30, SILVER produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 30.15 while the median line of the Neck is set at 30.73/30.77. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of SILVER will go towards 30.80.

The Double Top reversal pattern has been formed on SILVER M15. Characteristics: the upper boundary 30.72; the lower boundary 30.46; the width of the pattern is 245 points. Sell trades are better to be opened below the lower boundary 30.46 with a possible movements towards the 30.44 level.

On the chart of SILVER M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 30.72; the lower boundary 30.15; the width of the pattern 570 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 30.13 level.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 31.53; the lower boundary 31.34; the width of the pattern 190 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 31.32 level.

According to the chart of M15, SILVER formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 31.82, the lower border is 31.57. The signal means that a long position should be opened above the upper border 31.82 of the Bullish Rectangle.

According to the chart of M5, SILVER formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 31.82, the lower border is 31.57. The signal means that a long position should be opened above the upper border 31.82 of the Bullish Rectangle.

According to M30, SILVER is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 31.20/31.18 is broken out, the instrument is likely to move toward 31.21.

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 31.18/31.09 whereas the lower border goes across 30.99/31.09. The pattern width is measured on the chart at 197 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 31.09 is broken, the price could continue its move toward 31.11.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 31.18; the lower boundary 31.08; the width of the pattern 105 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 31.07 level.