FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M30, SILVER formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 95.82/94.21 whereas the lower border goes across 93.04/94.21. The pattern width is measured on the chart at 2780 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 94.21 is broken, the price could continue its move toward 94.24.

The Bullish pennant signal – Trading instrument SILVER M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 94.89, with the prospect of the next move being a projection of the flagpole height.

On the chart of SILVER M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 95.80; the lower boundary 94.64; the width of the pattern 1155 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 94.62 level.

On the chart of the SILVER M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 94.89, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 560 points.

According to the chart of M5, SILVER formed the Head and Shoulders pattern. The Head’s top is set at 93.80 while the median line of the Neck is found at 93.06/93.12. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of SILVER will go towards 93.11.