Silver: Short from resistance

🎯 Trade setup:
Direction: Short
🔻 Entry: 56.90–57.20
🛑 Stop Loss: 57.75
🎯 Take Profit 1: 56.00
🎯 Take Profit 2: 55.40

📰 News:
Silver remains under pressure as the precious metals market is still reacting to a firm U.S. dollar, higher rate expectations and weaker demand for non-yielding assets. Recent headlines also show silver has been one of the weaker metals this month, while long-term industrial demand remains supportive but not enough to reverse short-term bearish momentum yet.

📊 Analysis:
On the 1H chart, the price is still trading below the major moving averages. The current rebound is approaching the 56.70–57.20 resistance area, where sellers may become active again.
MACD is improving, but momentum is not strong enough yet. RSI has recovered from oversold levels, which supports a short-term bounce, but the broader structure still looks corrective unless silver breaks above 57.70–58.40.

Scenario:
If XAGUSD fails to hold above 57.20, sellers may push the price back toward 56.00 and then retest the recent support near 55.40. A stronger bearish continuation starts below 55.40.
Bullish invalidation comes if silver breaks and holds above 57.75–58.40.
⚠️ Not financial advice.[/I]

XAGUSD: Bounce or another Rejection from Resistance?