Silver Analysis – Was 80 the Low, or Just the First Stop?

Two days ago I spoke about the key resistance zone between 85 and 86 USD for Silver, highlighting the possibility of a rejection from that area and a move back toward 80.

That scenario played out almost perfectly.

Price reached the 85–86 resistance zone, formed a lower high overnight, and then sold off quickly during this morning, dropping close to the 80 level, with the day’s low printed at 80.50.

The Key Question

Now the natural question becomes:

Was that move enough, or is there still more downside ahead?

My Current View

In my opinion, the move lower is not finished yet.

In fact, the current structure suggests that there are increasing chances for a break below the 80 zone, which could open the door for a deeper continuation toward the 72 area.

Trading Perspective

For the moment, my outlook remains bearish, and this view will stay unchanged as long as the price remains below yesterday’s high.

As long as that level holds, I’m bearish

The next key test for the market will clearly be the 80 support zone. A decisive break below it could accelerate the downside move.