Open:
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ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel uncovered and the price is ready to break out.
An ascending channel identifies a specific bearish indicator that is used to indicate price heading to a new direction in case if price breaks out to the the downside.
Corrective downside towards the 68 level is not ruled out.
BULLISH FLAG
Silver
XAG/USD
4H
There is a bullish flag spotted and the price asks for a steady bullish action as an information of a breakout.
A bullish flag suggests a useful price action formation that has a downward slope that can be used to identify a bullish price move if price breaks out.
There is a probability of a bullish continuation towards 66 on impulse above 65.6 as bulls look for entries.
DESCENDING CHANNEL
Silver
XAG/USD
1H
The price gives a descending channel, the price is breaking out.
When price breaks out to the the upside, the resulting move could spot a temporary interruption during a falling market.
A bullish move towards the 64 mark is likely on a breach of 63.2.
RECTANGLE
Silver
XAG/USD
4H
As we can see a rectangle turns up.
A rectangle is believed to be a technical bearish price action formation that predicts the more likely potential of falling prices once price collapses through the support line.
Silver opens door for a move towards the 63.5 level while lower than 63.6 as silver becomes depressed.
ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel diagnosed, silver expects a bigger move as an indication of a breakout.
An ascending channel often indicates that prices move counter to the prevailing price trend in case if price breakdown occurs.
It is likely that a bearish price action to the 65 mark will be made while lower than 65.2.
ASCENDING CHANNEL
Silver
XAG/USD
1H
Silver develops an ascending channel.
An ascending channel is a bearish price action formation that often results in a bearish price move when price collapses through the support line.
Silver could attempt a move towards 65 on a breakout of the ascending channel.
DESCENDING TRIANGLE
Silver
XAG/USD
4H
It seems like a descending triangle is spotted, the price calls for a strong move to confirm a breakout.
A descending triangle often spots a bullish move in case if price breaks above resistance.
There is a chance of a rangebound towards the 66 level.
ASCENDING CHANNEL
Silver
XAG/USD
1H
An ascending channel has been distinguished and the price asks for a move as a sign of a breakdown.
Once price breaks down, the resulting move could signal a bearish move.
Silver challenges a move to 65 on a breakout of the ascending channel.
RECTANGLE
Silver
XAG/USD
1H
There is a rectangle occuring.
A rectangle signals a sharp rise when price breaks out to the the upside.
Silver to strengthen to the 66 level.
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