Silver – Bearish Move Toward Support🧠 Market Overview:
Instrument: Likely Silver (based on file name).
Chart Context: The price is currently trading below both the 50 EMA (red) and 200 EMA (blue), indicating bearish momentum and a possible shift in market structure.
📊 Key Technical Components:
🔹 Exponential Moving Averages (EMA):
50 EMA (32.614) is above the 200 EMA (32.526) but both are above the current price.
This crossover is recent and could indicate the beginning of a larger downtrend if confirmed by continued price action below both EMAs.
🔹 Market Structure:
POI (Point of Interest) marks a previous swing high where selling pressure emerged.
The chart shows internal liquidity (INT.LQ) sweeps both above and below consolidation areas, hinting at smart money manipulation to grab liquidity before making a move.
🔹 Resistance Zone:
Clearly defined between approx. 33.4–34.0, where price was rejected after a failed attempt to break higher.
Multiple rejections from this zone show strong selling pressure.
🔹 Support Zone:
Sitting between approx. 30.8–31.2.
Price previously consolidated here before a bullish move, making it a likely target for a return test or a potential bounce.
📉 Bearish Scenario & Projection:
The price broke below a short-term structure and failed to hold above EMAs.
The current price action shows a bearish pullback likely to form a Lower High (LH).
The projected path shows a pullback to previous support-turned-resistance, followed by a breakdown targeting the support zone.
✅ Bias:
Short-term bias: Bearish
Medium-term bias: Bearish, unless price reclaims the 200 EMA and consolidates above the resistance zone.
🔍 Confluences Supporting Bearish Outlook:
Price below EMAs (dynamic resistance).
Failed higher highs with liquidity sweeps (indicating smart money selling).
Clear market structure shift to the downside.
Anticipated retest of support zone around 30.8–31.2.
