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. 84.18 and 82.62 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 1560 pips. Outlook: If the upper border 84.18 is broken, the price is likely to continue its move by 83.56.

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 83.68 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 84.10; the lower boundary 82.95; the width of the pattern is 1210 points. Sell trades are better to be opened below the lower boundary 82.95 with a possible movements towards the 82.94 level.

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 83.34 is broken. The further movements will rely on the width of the current pattern 755 points.

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 120, support level -100, and pattern’s width 725. Forecast If the price breaks through the support level 83.23, it is likely to move further down to 83.97.

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 83.23 – 83.23 and upper border 83.99 – 83.99. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of SILVER M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 83.99; the lower boundary 83.23; the width of the pattern 755 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 83.22 level.

The technical pattern called Head and Shoulders has appeared on the chart of SILVER M5. There are weighty reasons to suggest that the price will surpass the Neckline 82.14/82.25 after the right shoulder has been formed. So, the trend is set to change with the price heading for 82.23.

According to the chart of M5, SILVER formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 79.97/80.91 and upper border is 81.72/80.91. The pattern width is measured on the chart at -1747 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 80.89.

The Double Top reversal pattern has been formed on SILVER H1. Characteristics: the upper boundary 82.76; the lower boundary 81.26; the width of the pattern is 1720 points. Sell trades are better to be opened below the lower boundary 81.26 with a possible movements towards the 81.22 level.