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

The Bearish pennant pattern has formed on the SILVER M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 32.70, a trader will be able to successfully enter the sell position.

The Triple Bottom pattern has been formed on SILVER M5. It has the following characteristics: resistance level 33.51/33.45; support level 33.34/33.34; the width is 160 points. In the event of a breakdown of the resistance level of 33.51, the price is likely to continue an upward movement at least to 33.35.

The Double Bottom pattern has been formed on SILVER M15. Characteristics: the support level 33.24; the resistance level 33.41; the width of the pattern 170 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 175 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 33.44/33.50 with the upper limit 33.62/33.63; the projection of the width is 180 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 33.44, the price is most likely to continue the downward movement.

On the chart of SILVER M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 33.62; the lower boundary 33.44; the width of the pattern 185 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 33.41 level.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 33.62; the lower boundary 33.44; the width of the pattern is 185 points. Sell trades are better to be opened below the lower boundary 33.44 with a possible movements towards the 33.42 level.

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 33.44/33.52 with the upper limit 33.59/33.62; the projection of the width is 160 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 33.44, the price is most likely to continue the downward movement.

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 33.28, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 335 points.

The Bearish Flag pattern has been formed on the chart SILVER M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 32.48, traders should enter the market.

The Bearish pennant pattern has formed on the SILVER M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 32.48, a trader will be able to successfully enter the sell position.