SI Short — $SI breaking down through $66 post-FOMC; HTF downtrenSilver FuturesCOMEX:SI1!mnktrdOn the 4h chart, silver has been in a sustained downtrend from the ~$89 peak in early May, making lower highs and lower lows throughout the period. After a bounce from the ~$62 low region (June 10–11), price rallied to the $70–$71 area — a well-defined resistance zone where the prior breakdown accelerated — before failing sharply on June 17. That sharp reversal from $71.65 down through $67 on massive volume was a clear HTF rejection of the recovery range's ceiling, re-establishing the bearish structural sequence. On the 1h chart, the post-rejection price action has been consistently lower: a gap-and-go lower through the $68 region, a weak bounce attempt to $69.9x that failed to reclaim $70, and now a continuation leg breaking through $66 on expanding sell volume today (June 18). The current session is pressing the $66 area with the last traded at $66.18. The $70–$71 zone now acts as hard overhead resistance and defines the invalidation level — a return above $67.70 (above the post-FOMC bounce high and 1h ATR buffer) would negate the breakdown. The first meaningful support level structurally sits at approximately $62.50, representing the prior June 10–11 swing lows where buyers defended price across multiple sessions. The Fed's hawkish signal at the June 2026 meeting — holding at 3.50%–3.75% but flagging additional hikes — aligns directly with silver's dual headwind: firming real yields and a stronger dollar both suppress the metal's monetary appeal. May CPI printing at 4.2% with a December hike fully priced reinforces this pressure. A December hike priced in is a near-binary risk on the horizon, but it is directionally consistent with the short thesis rather than a veto event. The 2026 supply deficit (Silver Institute) is a bullish structural backdrop but has not arrested the price decline, and the hawkish rate path is the dominant near-term driver. 📍 Entry: 66.180 🛑 Stop: 67.700 🎯 Target: 62.500 ⚖️ R:R: 2.42