Silver price analysis: Sharp rejection from resistance signals further downside risk [Video]

Silver is moving lower after reacting precisely to the resistance zone between 85 and 90, highlighted previously as a key supply area. From this region, the market has produced a sharp and impulsive selloff, indicating strong selling pressure rather than a corrective pullback.

The structure of the decline suggests that this move is likely part of wave D within a broader corrective formation. Wave D in such structures typically unfolds in three waves, which implies that the current downside phase may not yet be complete.

Given this interpretation, further weakness remains a high-probability scenario. Price action could extend lower toward the previous subwave B swing lows, where a significant support zone is expected between 67 and 72. This area may act as a temporary stabilizing region if buyers step in.

Overall, the broader structure still appears consistent with a higher-degree triangle formation, meaning the market may remain range-bound over time. However, the current momentum confirms that the decline from the February highs is still in progress.

If selling pressure continues, bears may retain control for the remainder of the year, with a deeper structural support level visible around the 50 area on the daily timeframe.

For a detailed view and more analysis like this, you can watch below our latest recording of a live webinar streamed on Junst 1st: