Open:
High:
Low:
Close:
DESCENDING TRIANGLE
Silver
XAG/USD
1H
There is a descending triangle recognized, silver lacks a further move as a sign of a breakout.
In case if price breaks through the support, the resulting move could signal prices are likely to keep falling downward.
Silver risks extending drop to 66 on a breach of 66.4.
RECTANGLE
Silver
XAG/USD
4H
There is a rectangle arising, silver needs a next steady bearish action to confirm rectangle breakout.
A rectangle is believed to be a bearish indicator that can be used to predict prices are likely to keep falling downward once price breaks out.
Silver risks extra losses to 65.
DESCENDING TRIANGLE
Silver
XAG/USD
1H
It seems like a descending triangle materializes and the price is about to break out.
A descending triangle indicates an extension in the upward direction if price breaks above resistance.
Silver to have better chances of advancing towards 67.5.
RECTANGLE
Silver
XAG/USD
4H
A rectangle is determined.
Once price breaks out to the the downside, the move could indicate the bulls have run out of steam.
Silver to maintain its negative tone to the 66 zone on a breakout of the rectangle.
ASCENDING CHANNEL
Silver
XAG/USD
1H
Silver builds an ascending channel, silver asks for a next steady move for clear breakout confirmation.
An ascending channel can be thought of as a technical bearish chart indicator that can be used to indicate a sharp decline when price breaks out.
Silver risks potential downside to the 68 mark as silver failes to keep gains.
ASCENDING TRIANGLE
Silver
XAG/USD
4H
An ascending triangle is nearing completion, the price is breaking out.
An ascending triangle suggests a technical formation that can be used to spot a move up when price breaks through the resistance.
A bullish continuation to 70 is about to happen once beyond 69.6 as the commodity nears 69.6 hurdle.
RISING WEDGE
Silver
XAG/USD
1H
We can see that a rising wedge is spotted, the price is ready to break out now.
A rising wedge is a useful bearish price formation that signals a move down once price breaks down.
It is not ruled out that a rangebound towards the 68 zone will occur once below 68.3.
RECTANGLE
Silver
XAG/USD
1H
A rectangle is close to being done, the price is breaking out.
Once price breaks above resistance, the resulting move could indicate the more likely potential of rising prices.
Silver to increase bullish potential towards the 70 zone.
PENNANT
Silver
XAG/USD
1H
It seems like silver forms a pennant, the price demands a move as a signal of a breakdown.
A pennant results in extending an downtrend when price breaks down.
There is a probability of a bearish push down towards 68.5 on a breakdown of the pennant as silver becomes offered.
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