Open:
High:
Low:
Close:
RISING WEDGE
Silver
XAG/USD
1H
It seems like a rising wedge is close to completion.
A rising wedge typically spots a bearish move in case if price breaks through the support.
Silver risks a correction to the 74 level as the commodity nears 75 hurdle.
FALLING WEDGE
Silver
XAG/USD
1D
There is a falling wedge spotted, the price breaks out.
A falling wedge often spots a temporary interruption during a falling market when price breaks above resistance.
A bullish continuation towards 80 is possible as the commodity probes 76 hurdle.
RISING WEDGE
Silver
XAG/USD
4H
There is a rising wedge occuring, the price is close to breaking out.
A rising wedge identifies a bearish price pattern that often results in that the price to go down if price collapses through the support line.
Silver to move downward to 72 on a breakout of the rising wedge.
ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel coming out, silver needs a further move to confirm a breakout.
In case if price breaks down, the move could indicate a bullish-to-bearish trend reversal.
Silver challenges a move to the 74 level while lower than 75.
DESCENDING TRIANGLE
Silver
XAG/USD
4H
A descending triangle is almost done and the price expects a next move to confirm descending triangle breakout.
A descending triangle typically predicts an extension in the upward direction in case if price breaks out to the the upside.
There is a chance of a bullish continuation towards 72 on a upside break amid the commodity reclaims part of the ground lost.
BEARISH FLAG
Silver
XAG/USD
1H
There is a bearish flag emerging, the price is ready to break out.
A bearish flag indicates the more likely potential of falling prices when price breaks out.
It is possible that a bearish run to the 67 zone will form.
ASCENDING TRIANGLE
Silver
XAG/USD
1H
An ascending triangle is close to being complete, the price lacks a next active move as proof of a breakout.
An ascending triangle identifies a useful bullish price action pattern that often signals the bears have run out of steam if price breaks out to the the upside.
Silver to jump to the 71 level on a breakout of the ascending triangle as the mood may improve.
DESCENDING CHANNEL
Silver
XAG/USD
1H
As we can see a descending channel is close to being completed.
A descending channel represents a specific bullish price action signal that results in a move up when price breaks out to the the upside.
It is possible that a bullish continuation to the 70 level will be made on a upside break.
BULLISH FLAG
Silver
XAG/USD
1H
We can see that a bullish flag is encountered.
A bullish flag suggests a reliable bullish price action pattern that is used to identify a change in price direction when price breaks out to the the upside.
It is possible that a move towards 70 will take place as bulls looking for upside correction.
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