Open:
High:
Low:
Close:
PENNANT
Silver
XAG/USD
1H
There is a pennant uncovered, the price requires a bit more consolidation for clear breakout confirmation.
A pennant represents an indicator that typically indicates an extension in the upward direction once price breaks above resistance.
It is likely that a bullish move to 52 will take place.
DESCENDING TRIANGLE
Silver
XAG/USD
4H
It seems like a descending triangle is uncovered, the price expects a move as a verification of a breakout.
A descending triangle describes a bullish chart signal that typically signals the more likely potential of rising prices when price breaks above resistance.
There is a probability of a further bullish continuation to the 53 mark on a breakout of the descending triangle.
ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel uncovered and silver asks for a next bigger move as a signal of a breakout.
When price breaks out, the resulting move could signal an extension in the downward direction.
Silver accelerates losses to the 50.5 mark on a break below 51 as silver looks offered.
ASCENDING CHANNEL
Silver
XAG/USD
1H
There is an ascending channel detected, the price is close to breaking out now.
If price breaks through the support, the move could signal a next move down.
A rangebound towards 51 is going to happen.
ASCENDING TRIANGLE
Silver
XAG/USD
1H
An ascending triangle has been discovered, the price expects a further strong bullish continuation as an indication of a breakout.
An ascending triangle provides a reliable price action indicator that is used to identify that the price will rally further in case if price breaks out.
Silver to prolong the growth phase to the 51 mark as there is a chance for a upside correction.
DESCENDING TRIANGLE
Silver
XAG/USD
1H
A descending triangle develops, the price is going to break out.
A descending triangle often predicts a further move up when price breaks through the resistance.
Silver to turn bullish towards 50.5 once above 50.2 as the commodity is at a brink of a bullish breakout.
DESCENDING CHANNEL
Silver
XAG/USD
1H
The price develops a descending channel, silver wants a further bigger move for the certainty of breakout.
A descending channel denotes a reliable bullish price action pattern that can be used to spot a breakout higher if price breaks above resistance.
Silver looks ready to further extend its gains to 51.
FALLING WEDGE
Silver
XAG/USD
4H
It seems like a falling wedge is nearing completion and silver asks for more steady push up for clear breakout confirmation.
Once price breaks above resistance, the resulting move could spot price reversal after a pause.
Silver to head to the 51 mark once beyond 50.2.
DESCENDING CHANNEL
Silver
XAG/USD
1H
There is a descending channel forming, the price is breaking out.
A descending channel can be thought of as a price action pattern that is angled down that often identifies that the price to go up when price breaks out to the the upside.
Silver to resume its rise towards the 50.5 zone.
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