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

The Triple Top pattern has formed on the chart of the SILVER M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -15, support level -105, and pattern’s width 180. Forecast If the price breaks through the support level 30.04, it is likely to move further down to 30.21.

The Double Top pattern has been formed on SILVER M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 30.04 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on SILVER M15. Characteristics: the upper boundary 30.14; the lower boundary 29.99; the width of the pattern is 140 points. Sell trades are better to be opened below the lower boundary 29.99 with a possible movements towards the 29.97 level.

According to the chart of M5, SILVER formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 29.97/30.05 whereas the upper border goes across 30.14/30.05. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of SILVER will breach the upper border to head for 30.07.

The Bullish Flag pattern has been formed on the chart SILVER M5 which signals that the upward trend will continue. Signals: а break of the peak at 30.11 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant pattern is formed on the SILVER M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 30.11, a further uptrend is possible.

The Triple Bottom pattern has formed on the chart of SILVER M5. Features of the pattern: The lower line of the pattern has coordinates 28.95 with the upper limit 28.95/28.75, the projection of the width is 495 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 28.45, the price is most likely to continue the upward movement.

According to M5, SILVER is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 31.90/31.88 is broken out, the instrument is likely to move toward 31.89.

According to the chart of M5, SILVER formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 32.02, the lower border is 31.82. The signal means that a short position should be opened after fixing a price below the lower border 31.82 of the Bearish Rectangle.

The Bullish Flag pattern has been formed on the chart SILVER M5 which signals that the upward trend will continue. Signals: а break of the peak at 33.77 may push the price higher, and the rise will be the projection of the pole.