Silver Bearish Continuation | Resistance Holding Strong (1H)

Jul 16

Silver remains under bearish pressure as price continues to respect the descending trendline and the highlighted resistance zone. Multiple rejection candles suggest sellers are defending this area, increasing the probability of a move toward lower support levels.

The overall market structure remains bearish while price trades below the trendline and resistance.

Key Levels:

* 🔴 Resistance: 57.30 – 57.70
* 🟦 1st Support: 54.20
* 🟦 2nd Support: 53.00
* 📉 Bias: Bearish below resistance.

Analysis:

A rejection from the marked supply zone followed by continued weakness could drive price toward the first support. If bearish momentum accelerates, the second support becomes the next downside objective. A confirmed breakout and close above the resistance zone would invalidate the bearish scenario.

Jul 16

Trade active

trade active

Jul 20

Trade closed: target reached

almost done