Silver Futures – Bearish Reversal in Progress

Silver Futures – Bearish Reversal in Progress

Description:
Silver is showing a strong technical reversal across timeframes. Short-term correction looks likely.

Technical Setup:

Daily:

Evening Star + Bearish Engulfing

Flattening EMAs

Volume and MACD confirming momentum slowdown


Weekly:

Gravestone + Southern Doji near resistance

RSI close to overbought

EMA slope still up, but weakening signs visible



Macro View:
No major bearish macro trigger — Fed dovish, USD stable, inflation low.
→ This is likely a technical pullback, not a fundamental reversal.

Trade Plan:

🔻 Breakdown Level: ₹114,560

🎯 Targets: ₹107K → ₹101K → ₹93K

🛑 SL: ₹116,000+


Caution: No position without breakdown confirmation.