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

According to the chart of M15, SILVER formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 30.77 is likely to encourage a continuation of the downward trend.

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 25, support level -35, and pattern’s width 175. Forecast If the price breaks through the support level 31.01, it is likely to move further down to 31.13.

According to the chart of M5, SILVER formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 31.16 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on SILVER M5. Characteristics: the support level 31.16; the resistance level 31.24; the width of the pattern 80 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 85 points.

The Triple Top pattern has formed on the chart of the SILVER M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 31.06/31.09 with the upper limit 31.12/31.12; the projection of the width is 60 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 31.06, the price is most likely to continue the downward movement.

According to the chart of M5, SILVER formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 31.21 and support 31.09. In case the resistance level 31.21 - 31.21 is broken, the instrument is likely to follow the bullish 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 30.87 is broken, the downward movement will continue.

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 30.36, a further uptrend is possible.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 30.76; the lower boundary 30.48; the width of the pattern is 290 points. Sell trades are better to be opened below the lower boundary 30.48 with a possible movements towards the 30.46 level.

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.