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

The Bullish pennant signal – Trading instrument SILVER M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 28.93, with the prospect of the next move being a projection of the flagpole height.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 28.84; the lower boundary 28.75; the width of the pattern 85 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 28.73 level.

The Triple Bottom pattern has been formed on SILVER M5. It has the following characteristics: resistance level 28.25/28.05; support level 28.00/27.84; the width is 250 points. In the event of a breakdown of the resistance level of 28.25, the price is likely to continue an upward movement at least to 27.91.

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 15, support level -105, and pattern’s width 225. Forecast If the price breaks through the support level 28.95, it is likely to move further down to 29.12.

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 29.14, a further uptrend is possible.

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 28.39/28.39 with the upper limit 28.45/28.47; the projection of the width is 60 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 28.39, the price is most likely to continue the downward movement.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart SILVER M5. Forecast: if the price breaks above the pattern high at 28.25, then traders will be able to place a long deal with the target at 28.26.

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 27.73 is broken, the downward movement will continue.

The Triple Bottom pattern has formed on the chart of SILVER M5. Features of the pattern: The lower line of the pattern has coordinates 27.84 with the upper limit 27.84/27.77, the projection of the width is 130 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 27.71, the price is most likely to continue the upward movement.

According to the chart of M15, SILVER formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 27.53/27.78 whereas the upper border goes across 28.02/27.78. 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 27.80.