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

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 110.07; the lower boundary 109.00; the width of the pattern 1065 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 108.99 level.

According to the chart of M5, SILVER formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 98.25/98.67 whereas the upper border goes across 98.97/98.67. 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 98.68.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 94.32; the lower boundary 93.78; the width of the pattern is 510 points. Sell trades are better to be opened below the lower boundary 93.78 with a possible movements towards the 93.77 level.

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 90.33 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -3389 pips.

The Triple Bottom pattern has formed on the chart of the SILVER M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 93.93/93.30.

The Double Bottom pattern has been formed on SILVER M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 93.30 is broken. The further movements will rely on the width of the current pattern 950 points.

According to the chart of M30, SILVER formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 95.82/94.21 whereas the lower border goes across 93.04/94.21. The pattern width is measured on the chart at 2780 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 94.21 is broken, the price could continue its move toward 94.24.

The Bullish pennant signal – Trading instrument SILVER M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 94.89, with the prospect of the next move being a projection of the flagpole height.

On the chart of SILVER M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 95.80; the lower boundary 94.64; the width of the pattern 1155 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 94.62 level.

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 94.89, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 560 points.