Silver is trapped in a pennant pattern, according to the 4-hour chart. A breakout would imply a resumption of the uptrend from lows near $19. Silver is being squeezed in a narrowing price range for the eighth trading day. At press time, the metal is trading largely unchanged on the day at $24.31 per ounce. The 4-hour chart shows the metal has carved out a pennant pattern. A break above the pennant resistance, currently at $24.56, would confirm the breakout and signal a continuation of the rally from the July 17 lows near $19. That would expose the recent high of $26.20. Alternatively, a pennant breakdown would imply bearish reversal and open the doors for a pullback to $22.25 (pennant low). Acceptance under that level would expose the psychological support of $20. 4-hour chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian stocks print gains as upbeat US factory data overshadows coronavirus concerns FX Street 3 years Silver is trapped in a pennant pattern, according to the 4-hour chart. A breakout would imply a resumption of the uptrend from lows near $19. Silver is being squeezed in a narrowing price range for the eighth trading day. At press time, the metal is trading largely unchanged on the day at $24.31 per ounce. The 4-hour chart shows the metal has carved out a pennant pattern. A break above the pennant resistance, currently at $24.56, would confirm the breakout and signal a continuation of the rally from the July 17 lows near $19. That would expose the recent high of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
