$SILVER pushing up today but still under the parallel — not confirmed breakdown yet, slightly bearish lean.
Key structure:
- Sitting in July-Aug consolidation support zone
- Oct 2025 highs flipped from resistance to support
- Clean setup wants price to sweep the July 17 low (green oval) — grab liquidity, full backtest of breakout level (top of box)
That's why $54 keeps coming up. Price doesn't have to nail it perfectly — could wick into the box or chop there for weeks. On reclaim above the box, I'd start calling the bottom.
Could be wrong? Always. If we reclaim $71.30, I'd flip — bottom's likely in already.
Structure > hope. Wait for the setup.
Key structure:
- Sitting in July-Aug consolidation support zone
- Oct 2025 highs flipped from resistance to support
- Clean setup wants price to sweep the July 17 low (green oval) — grab liquidity, full backtest of breakout level (top of box)
That's why $54 keeps coming up. Price doesn't have to nail it perfectly — could wick into the box or chop there for weeks. On reclaim above the box, I'd start calling the bottom.
Could be wrong? Always. If we reclaim $71.30, I'd flip — bottom's likely in already.
Structure > hope. Wait for the setup.