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

According to the chart of M5, SILVER formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 76.83 and 76.52 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 305 pips. Outlook: If the upper border 76.83 is broken, the price is likely to continue its move by 76.66.

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 75.18 is broken. The further movements will rely on the width of the current pattern 720 points.

According to the chart of M5, SILVER formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 75.53 – 75.53 and upper border 76.56 – 76.56. In case the upper border is broken, the instrument is likely to follow the upward 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 75.47 is broken, the downward movement will continue.

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 -155, support level -295, and pattern’s width 595. Forecast If the price breaks through the support level 74.81, it is likely to move further down to 75.53.

The Triple Bottom pattern has formed on the chart of SILVER H1. Features of the pattern: The lower line of the pattern has coordinates 78.83 with the upper limit 78.83/74.86, the projection of the width is 4990 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 73.84, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on SILVER H1. It has the following characteristics: resistance level 78.83/74.86; support level 73.84/73.12; the width is 4990 points. In the event of a breakdown of the resistance level of 78.83, the price is likely to continue an upward movement at least to 73.11.

According to the chart of M15, SILVER formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 73.07/74.02 and upper border is 75.23/74.02. The pattern width is measured on the chart at -2157 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and SILVER breaches the lower border, the price could continue its move toward 73.99.

The Double Bottom pattern has been formed on SILVER M30; the upper boundary is 78.83; the lower boundary is 75.44. The width of the pattern is 3470 points. In case of a break of the upper boundary 78.83, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Triple Bottom pattern has formed on the chart of the SILVER M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 76.61/76.50.