Note: This section contains information in English only.Silver just recently formed a descending channel pattern, as it recently confirmed for the third time the pattern's upper trend line. This pattern started forming on at the start of July, when the metal broke out of the previous large scale channel down pattern. In accordance with the pattern the commodity is set to move lower. However, aggregate technical indicators forecast that the rate will surge in the next four hours and remain unchanged on a daily timeframe. That means that there will be another confirmation of the pattern's resistance line around the level from 20.05 to 20.21, as the trend line is also supported by the weekly R2 and monthly R1.
Thu, 08 Sep 2016 13:10:05 GMT
Source: Dukascopy Bank SA