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

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 73.13, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 1190 points.

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 -515, support level -1695, and pattern’s width 2850. Forecast If the price breaks through the support level 70.50, it is likely to move further down to 73.11.

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 73.12/72.73 whereas the lower border goes across 72.16/72.73. The pattern width is measured on the chart at 969 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 72.73 is broken, the price could continue its move toward 72.75.

According to the chart of M5, SILVER formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 72.20 – 72.20 and upper border 73.12 – 73.12. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 72.20 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 77.50; the lower boundary 76.05; the width of the pattern is 1440 points. Sell trades are better to be opened below the lower boundary 76.05 with a possible movements towards the 76.03 level.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 77.53; the lower boundary 72.26; the width of the pattern is 5240 points. Sell trades are better to be opened below the lower boundary 72.26 with a possible movements towards the 72.25 level.

The Double Bottom pattern has been formed on SILVER M15; the upper boundary is 77.88; the lower boundary is 73.92. The width of the pattern is 4315 points. In case of a break of the upper boundary 77.88, 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 SILVER M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 88.23; the lower boundary 86.39; the width of the pattern 1840 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 86.37 level.

The Double Bottom pattern has been formed on SILVER M5; the upper boundary is 85.23; the lower boundary is 82.86. The width of the pattern is 2275 points. In case of a break of the upper boundary 85.23, 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.