Eseandre Mordi
⬤ Silver is flashing early reversal signals as price action carves out an inverse head and shoulders structure on the lower time frame. According to analyst Rashad Hajiyev, the $72 level is the critical resistance to watch. Reclaiming that zone would be a meaningful shift in momentum, while a descending trendline continues to press down as dynamic resistance.
⬤ The chart shows three rounded lows forming a textbook base. Price bounced from the $62 area and is now consolidating near $66-$68, a sign that selling pressure is losing steam. The descending trendline converges near $72, creating a strong confluence zone. Silver Breaks Higher With a 7.7% Rally Above Key Resistance showed how quickly momentum can shift once this kind of structure resolves.
A move above $72 would not only break horizontal resistance but also invalidate the descending trendline structure, opening the path toward $80.
⬤ Price action is printing gradual higher lows, hinting at a short-term sentiment shift. But the broader trend stays under pressure until a confirmed breakout lands. As highlighted in Silver Price Analysis: $72 Support Faces 1.5% Breakdown Risk, this level has repeatedly acted as a directional pivot for XAG.
⬤ This setup marks a potential transition from bearish consolidation to bullish recovery. A breakout above $72 could shift sentiment across the broader commodities space. Failure to reclaim it would reinforce the current downtrend. As noted in Silver Triangle Setup Points to a $150 Long-Term Target, technical structure at key levels remains the primary driver of directional momentum in silver.
Eseandre Mordi
