Bearish XAGUSD - 24 July 2024 - Technical Analysis

EURUSD Forex

Silver

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 4 Hour time frame chart supports Silver Bearish bias. A break of 30.130 will support the fall towards the target of 28.637 the break of 28.637 would push the price to 27.642.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 29.448
Support S1: 29.431, S2: 29.408 , S3: 29.391
Resistance R1: 29.471 , R2: 29.488 , R3: 29.511

Brokers

Open account

Summary

Instrument :

Silver

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

50%

Entry Level :

30.130

Activation Time :

2024-07-17 18:00

Age :

125 Bars

Progress :

100%

Close Time :

2024-07-24 22:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.