#SILVER

Silver formed a shooting star on Friday at resistance, signaling that bullish momentum was fading as price struggled to break above resistance within the rising channel. 

The past few sessions of consolidation without a decisive breakout reflect waning buyer strength. Looking at the broader price action since the October peak, Silver has been in a clear downtrend over the last four months, consistently forming lower highs and lower lows. 

Friday’s candle emphasized that bulls were losing control short term, and today’s follow-through to the downside confirms bearish momentum resuming. 

Silver is now on the verge of losing its 200-day moving average, a critical technical level that could further embolden bears if broken. Additionally, the MACD is nearing a bearish crossover, signaling a potential acceleration in selling pressure.

This is the time to be patience and the chart hasn’t given us any reason to play silver in a while. 

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