Open:
High:
Low:
Close:
PENNANT
Silver
XAG/USD
1H
There is a pennant occuring and the price requires a further steady move as a verification of a breakout.
A pennant predicts a bearish price move once price breaks out.
There is a chance of a bearish push down to 59.
ASCENDING TRIANGLE
Silver
XAG/USD
1H
As we can see the price sets up an ascending triangle.
An ascending triangle typically predicts the bulls have run out of steam when price breaks through the support.
It is not ruled out that a further bearish run to 59.5 will form.
FALLING WEDGE
Silver
XAG/USD
4H
It seems like a falling wedge has been uncovered and the price requires a strong move to confirm falling wedge breakout.
A falling wedge denotes an indicator that identifies a tendency to break in the opposite direction when price breaks above resistance.
There is a chance of a rangebound towards 61 on impulse above 60.2 as minor hurdle remains at 60.2.
DESCENDING CHANNEL
Silver
XAG/USD
1H
It seems like a descending channel forms and the price needs more push up as a sign of a breakout.
A descending channel suggests a bullish price signal that often results in a break in the price direction when price breaks out to the the upside.
There is a chance of a bullish push up towards 59.
DESCENDING CHANNEL
Silver
XAG/USD
1H
A descending channel has been diagnosed, the price is ready to break out.
If price breaks above resistance, the move could predict a bullish price action.
A move towards 61.5 about to be made on a breakout of the descending channel.
BEARISH FLAG
Silver
XAG/USD
4H
It seems like the price creates a bearish flag, the price is breaking out.
When price breaks down, the resulting move could predict a potential reversal in price action.
Corrective downside to 60 is possible on a breakout of the bearish flag as there is room for a downside correction.
DESCENDING CHANNEL
Silver
XAG/USD
1H
It seems like the price sets up a descending channel.
A descending channel is said to depict a technical price indicator that spots a temporary interruption during a falling market once price breaks through the resistance.
Silver to extend its advance towards the 62 zone on a breach of 61.8 as the commodity loses bearish momentum.
BEARISH FLAG
Silver
XAG/USD
4H
The price completes a bearish flag and the price requests more fall for the certainty of breakdown.
In case if price breaks through the support, the move could indicate a pause in an uptrending market.
Silver risks a move to the 60 level.
DESCENDING TRIANGLE
Silver
XAG/USD
1H
We can see that a descending triangle is revealed.
A descending triangle identifies a formation that often results in a bearish move if price breaks out.
Silver targets a move towards the 61.5 level as silver challenges 61.8 hurdle.
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