The descending triangle pattern has formed on the weekly chart of silver after the price has attempted to rally several times, but each time it has failed as each successive high was lower than a previous one. This pattern shows a bearish trend. This particular case is interesting because the bearish move has started immediately after silver reach the record last year. The yellow lines show the the borders of the pattern, while the cyan lines are +/-10% off the borders and indicate entry points in case a breakout would occur. The green lines are the target levels and are +/-100% off the borders of the pattern.Click the image to enlarge it to a
full-size screenshot
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