XAG/USDXAG/USD SpotFX:XAGUSDIbrahimTarekMarket Structure & Pattern Silver (XAG/USD) is trading within a rising channel, indicating a short-term bullish correction. However, the internal structure clearly shows a completed 5-wave Elliott Wave pattern: Waves (1) → (5) are well defined Wave (5) shows signs of exhaustion and weakening momentum Price is reacting from the upper boundary of the channel (strong resistance zone) 👉 This suggests the current uptrend is corrective, not impulsive, increasing the probability of a bearish reversal. Key Levels Sell Entry: ~70.00 Stop Loss: 71.85 (above channel resistance & liquidity zone) First Target: 67.70 Major Support: 65.70 Extended Target: 63.30 Scenario Analysis 🔴 Primary Scenario (Bearish – Higher Probability) Rejection from channel resistance Completion of Elliott Wave (5) Weak bullish continuation ➡️ Expected move: Drop toward 67.70 (first easy target) Break below this level → continuation to 65.70 Strong momentum may extend the move to 63.30 📉 Outlook: Impulsive bearish move (distribution → markdown phase) 🟢 Alternative Scenario (Bullish Breakout) A strong breakout and close above 72.00 ➡️ This would invalidate the bearish setup and lead to: A bullish expansion (“boom” move) toward higher levels Technical Confluence Rising channel resistance Elliott Wave completion (Wave 5 exhaustion) Supply zone rejection احتمال liquidity sweep above highs before reversal Conclusion The market is in a corrective uptrend, but multiple signals point toward an upcoming bearish reversal. ✅ Preferred setup: Sell near 70.00 🎯 Targets: 67.70 → 65.70 → 63.30 🛑 Stop Loss: 71.85