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

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.

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 82.69 is broken. The further movements will rely on the width of the current pattern 1805 points.

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 82.01 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on SILVER M5. Characteristics: the upper boundary 83.52; the lower boundary 82.82; the width of the pattern is 770 points. Sell trades are better to be opened below the lower boundary 82.82 with a possible movements towards the 82.81 level.

The Bullish Flag pattern has been formed on the chart SILVER M15 which signals that the upward trend will continue. Signals: а break of the peak at 83.88 may push the price higher, and the rise will be the projection of the pole.

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 83.88, with the prospect of the next move being a projection of the flagpole height.