Silver (XAG/USD) 1-hour chart: Bull Pennant
A bull pennant on the Silver (XAG/USD) 1-hour chart, bullish. The video shows how to spot it, where to enter and where the stop and target go.
- Pattern: Bull Pennant (bullish)
- Entry 60.93, stop 60.61, target 61.61
Full transcript
Silver surged, then went completely quiet.
October 12: spot silver on the hourly chart confirmed a bullish pennant last Saturday.
A bullish pennant is a sharp rally, then a tight, quiet triangle.
The first move was a quick rally, then the market caught its breath in a tighter range.
Price then paused and squeezed quietly into a tightening triangle.
Confirmation came when it closed above the upper edge, 60.763.
From here, the measured target is 61.61, and the invalidation level is 60.614. A close beyond it cancels the pattern.
It is still in play, and neither level has been hit yet.
A pattern never guarantees its target, and the same shape fails just as often.
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AI-voiced; written and reviewed by the Borearis Research Team. For education only, not investment advice. Trading involves risk.