**Trend Overview:**
Silver has been in a strong downtrend after failing to break above the **\$39.52** resistance area. Recent price action shows a sharp decline followed by a weak corrective structure, indicating possible continuation of bearish momentum.
---
### **Key Observations:**
1. **Bearish Flag Formation:**
* After the steep drop from **\$39.20**, price has consolidated in a tight upward-sloping channel, forming a classic **bearish flag** pattern.
* Price is now testing the lower boundary of this flag, signaling a possible breakdown.
2. **Supply Zones:**
* The rejection from the **\$38.40 - \$38.50** supply zone strengthens the bearish bias.
* No significant demand zones until the **\$37.60 - \$37.50** region.
3. **Target Levels:**
* Immediate downside target sits around **\$37.60 - \$37.50** (previous structure low & demand zone).
* A clean break of this level could extend losses further.
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### **Bearish Scenario (Preferred):**
* **Entry Trigger:** A confirmed break and close below the bearish flag support near **\$38.10 - \$38.00**.
* **Target:** **\$37.60 - \$37.50** zone.
* **Stop Loss:** Above the upper flag boundary (\~\$38.40) to protect against false breakouts.
---
### **Bullish Invalidations:**
* Bulls need to reclaim **\$38.50** resistance with strong volume to invalidate the bearish outlook and aim for **\$38.80 - \$39.00** levels.
---
### **Conclusion:**
Silver remains weak, and the bearish flag breakdown is likely to trigger further downside momentum towards **\$37.60
Trade active
Trade closed: target reached
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