Silver Is Rejecting a Key Level – $61 Next?

Silver has been one of the cleanest HTF setups on my radar.

After a massive expansion from the lows — Silver was the asset I publicly compared to USOIL before its major move — price has now distributed and broken structure to the downside. The HTF narrative has shifted from bullish to bearish.

Expecting price to retrace into daily Breaker zone acting as IRL — This is the exact level where the move lower should accelerate from.

The IRL to ERL delivery is the narrative. Internal range liquidity has been confirmed at the Breaker . The external range liquidity target — the ERL — sits at the previous yearly low at $61.

This is directly in alignment with DXY strength and the broader metals bearish thesis. Gold heading toward $4,098 ERL, Silver heading toward $61 ERL. Both metals delivering IRL to ERL on the daily timeframe.

Bias: Bearish
IRL: Daily Breaker rejection zone 70.86
Weekly open: Key reference below
Target ERL: Previous yearly low $61.01
Invalidation: Daily close above the Breaker zone

Not financial advice — just my analysis.