Silver Approaches Resistance While Downtrend Remains in ControlSilverOANDA:XAGUSDDomicChainaHello everyone, On the H2 timeframe, Silver continues to trade within a well-defined descending channel, with a clear structure of lower highs and price remaining below key moving averages. The recent rebound has pushed price back into the 73–75 zone, which aligns with the upper boundary of the channel and also coincides with a confluence of moving averages and a supply zone—making this a notable resistance area in the short term. One key observation is that although price bounced strongly from the 65–67 region, momentum has started to fade as it approaches resistance. The market is now showing signs of hesitation, suggesting that buying pressure is weakening at higher levels. A likely scenario here is a potential false breakout or liquidity sweep above resistance before price rotates lower again—especially if the 74–75 zone is not decisively broken with strong follow-through. From a macro perspective, silver—similar to gold—continues to face pressure from a high interest rate environment and a strong US dollar. As the Federal Reserve maintains a relatively tight stance, the opportunity cost of holding non-yielding assets remains elevated, limiting strong inflows into precious metals. In addition, silver’s industrial demand component is also under scrutiny, as global growth uncertainties weigh on outlook expectations. In the near term, if price fails to achieve a confirmed breakout above 75 with supporting volume, this move is more likely to be a technical rebound within a broader downtrend. In that case, the 67–69 area remains a potential downside target. On the other hand, a clean and sustained breakout above resistance could invalidate the bearish structure and open the door for a deeper corrective move higher.