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

On the chart of SILVER H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 31.96; the lower boundary 31.43; the width of the pattern 530 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 31.39 level.

The Bearish Flag pattern has been formed on the chart SILVER M5 which signals that the downward trend will continue. If the price breaks below the low at 31.54, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (10 points).

The Bearish pennant pattern has formed on the SILVER M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 31.54; the projection of the flagpole height is equal to 320 pips. In case the price breaks out the pattern’s bottom of 31.54, the downtrend is expected to continue for further level 31.52.

The Double Bottom pattern has been formed on SILVER M15. Characteristics: the support level 31.45; the resistance level 31.66; the width of the pattern 210 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 205 points.

According to the chart of M15, SILVER formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 31.79 and support 31.56. In case the resistance level 31.79 - 31.79 is broken, the instrument is likely to follow the bullish trend.

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 31.56, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 225 points.

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 31.56 is broken, the downward movement will continue.

According to the chart of M5, SILVER formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 30.79 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -391 pips.

The Bearish Flag pattern has been formed on SILVER at H1. The lower boundary of the pattern is located at 30.97/31.10 while the upper boundary lies at 31.11/31.24. The projection of the flagpole is 375 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 30.97 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the SILVER H1 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 30.97, a trader will be able to successfully enter the sell position.