Open:
High:
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RECTANGLE
Silver
XAG/USD
1H
Silver composes a rectangle.
A rectangle often spots a bearish move in case if price breaks below support.
Silver is bearish and en route towards the 50 level on a breakout of the rectangle.
DESCENDING TRIANGLE
Silver
XAG/USD
1H
It looks like a descending triangle occurs.
A descending triangle depicts a useful bullish price action pattern that results in a bullish price action if price breaks out to the the upside.
There is a possibility of a rangebound to the 51.5 zone on a breach of 51.2 as indicators favor bulls.
ASCENDING CHANNEL
Silver
XAG/USD
1H
We can see that an ascending channel is very close to being finished.
In case if price breakdown occurs, the resulting move could predict a bearish move.
There is a possibility of extra downside towards 50.5 amid rising bets for the move.
RISING WEDGE
Silver
XAG/USD
1H
There is a rising wedge revealed.
A rising wedge is said to depict a technical formation that typically results in a temporary interruption during a rising market if price breaks through the support.
It is possible that a bearish push down towards the 51 zone will be made on a breakout of the rising wedge.
DESCENDING CHANNEL
Silver
XAG/USD
1H
A descending channel comes out and the price is close to breaking out now.
A descending channel typically spots that the price to go long once price breaks through the resistance.
There is a probability of a further bullish move towards 51 as silver challenges 50.6 hurdle.
DESCENDING CHANNEL
Silver
XAG/USD
1H
A descending channel emerges and the price demands a further move as a verification of a breakout.
A descending channel is considered to be a price action indicator that can be used to predict a countertrend succeeding the current trend in case if price breaks out to the the upside.
There is a chance of a bullish run towards 51 as risk reversal sheds bearish bias.
BULLISH FLAG
Silver
XAG/USD
1H
A bullish flag has been diagnosed, the price is ready to break out.
When price breaks out, the move could spot that the price will rally further.
Silver to prolong the growth phase to 51.
DESCENDING TRIANGLE
Silver
XAG/USD
1H
We can see that a descending triangle occurs and silver requires a next active move to confirm descending triangle breakout.
A descending triangle tends to be a bearish formation that typically signals a next move down if price breakdown occurs.
There is a possibility of a bearish continuation towards 50 on a downside break as bears looking for profit.
DESCENDING TRIANGLE
Silver
XAG/USD
1H
There is a descending triangle recognized.
A descending triangle denotes a reliable bullish formation that predicts that the price to go up when price breaks through the resistance.
There is a probability of a bullish move to 51 as outlook for silver stays positive.
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