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

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 63.77, a further uptrend is possible.

The Triple Bottom pattern has been formed on SILVER D1. It has the following characteristics: resistance level 63.22/60.87; support level 55.59/56.53; the width is 7630 points. In the event of a breakdown of the resistance level of 63.22, the price is likely to continue an upward movement at least to 54.77.

The Double Top reversal pattern has been formed on SILVER M15. Characteristics: the upper boundary 59.10; the lower boundary 58.76; the width of the pattern is 345 points. Sell trades are better to be opened below the lower boundary 58.76 with a possible movements towards the 58.74 level.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 58.99; the lower boundary 58.70; the width of the pattern 290 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 58.69 level.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 58.77; the lower boundary 58.56; the width of the pattern 200 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 58.55 level.

On the chart of SILVER M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 58.52; the lower boundary 56.53; the width of the pattern 1980 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 56.51 level.

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 58.16 and support 57.95. In case the resistance level 58.16 - 58.16 is broken, the instrument is likely to follow the bullish trend.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 58.16; the lower boundary 57.95; the width of the pattern 205 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 57.94 level.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 57.94; the lower boundary 57.78; the width of the pattern 155 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 57.77 level.

The Double Bottom pattern has been formed on SILVER H1. Characteristics: the support level 56.73; the resistance level 59.20; the width of the pattern 2475 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 2300 points.