(Silver 1H chart).
Price is trending down under a descending trendline
Recent structure shows lower highs + lower lows
I have already marked a horizontal support zone around ~70
Realistic downside targets
If that trendline holds and price rejects again:
Primary target:
70.0 – 69.5 (major support / liquidity zone — matches my marked area)
Extended target (if breakdown happens):
67.5 – 66.5 (next strong support range)
What needs to happen first
For my bearish target to play out cleanly:
Price should reject the trendline again (~76–77 area)
Then break below ~73.5 support with momentum
Invalidation
My idea weakens if:
Price breaks and holds above the trendline (~77.5–78)
Price is trending down under a descending trendline
Recent structure shows lower highs + lower lows
I have already marked a horizontal support zone around ~70
Realistic downside targets
If that trendline holds and price rejects again:
Primary target:
70.0 – 69.5 (major support / liquidity zone — matches my marked area)
Extended target (if breakdown happens):
67.5 – 66.5 (next strong support range)
What needs to happen first
For my bearish target to play out cleanly:
Price should reject the trendline again (~76–77 area)
Then break below ~73.5 support with momentum
Invalidation
My idea weakens if:
Price breaks and holds above the trendline (~77.5–78)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.