SILVER 1H: Resistance Rejection — Bearish Pullback Setup Silver is struggling below the 69.00–70.00 resistance zone after a strong rally. Repeated rejection from this area favors a corrective move toward the highlighted order blocks. The bearish view remains valid while price stays below 70.00.
Silver has been building a strong base for several weeks after finding support around the $55–56 zone. The prolonged consolidation has now resulted in a decisive breakout above the key $62.3–62.5 resistance zone, suggesting a potential shift from accumulation to a new bullish expansion phase.
Silver (XAG/USD) is currently trading within an important technical structure on the 4-hour chart. Price has been forming lower highs and lower lows since the mid-August peak near $67.00, creating a descending channel.