Open:
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Close:
BEARISH FLAG
Silver
XAG/USD
1H
There is a bearish flag taking place, silver wants a next strong correction as evidence of a breakout.
If price breaks down, the resulting move could predict a bearish price action.
Silver to head to the 59 level on a downside break.
RECTANGLE
Silver
XAG/USD
1H
A rectangle is almost done.
In case if price breaks out, the move could indicate a move up.
It is not ruled out that a rangebound to 59.5 will form.
DESCENDING CHANNEL
Silver
XAG/USD
1H
The price develops a descending channel, the price expects a strong impulse up for clear breakout confirmation.
A descending channel is said to depict a reliable bullish price action formation that has a downward slope that is used to spot a move up when price breaks out.
Silver to have better chances of advancing to the 59 zone on a breach of 58.6 as the commodity loses bearish momentum.
DESCENDING CHANNEL
Silver
XAG/USD
1H
There is a descending channel emerging, the price breaks out now.
A descending channel suggests a compelling price action formation with a downward bias that often indicates a further move up when price breaks above resistance.
There is a possibility of a move to the 59 mark on a breach of 58.6 as downside pressure alleviates.
DESCENDING CHANNEL
Silver
XAG/USD
1H
It looks like a descending channel has been noticed, the price is close to breaking out.
A descending channel denotes a useful signal that often predicts that the price to go long once price breaks through the resistance.
Silver now looks towards 58.
ASCENDING CHANNEL
Silver
XAG/USD
4H
The price sets up an ascending channel and the price is about to break out soon.
An ascending channel is considered to be a specific bearish price action signal that typically predicts that the price to go short if price breaks below support.
Silver accelerates losses towards the 57 level.
RECTANGLE
Silver
XAG/USD
1H
It looks like a rectangle arises and the price wants a move to confirm rectangle breakdown.
A rectangle often predicts a bearish price action when price collapses through the support line.
Silver risks suffer setback towards the 58.5 level on a breakout of the rectangle as door open for a test of 58.5.
ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel happening.
An ascending channel provides a price signal that often spots an extension in the downward direction when price breaks through the support.
A rangebound towards 59 is a possibility.
RISING WEDGE
Silver
XAG/USD
1H
There is a rising wedge happening and the price wants a steady bearish impulse as a signal of a breakdown.
A rising wedge describes a technical indicator that can be used to spot a next move down if price breaks out.
Silver turns lower towards 59.
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