Silver: Confluence Rejection at Key Resistance Reinforces Structure

Silver is trading in a weekly consolidation after a recovery from recent lows, confined to a 72.784–79.310 range. The recent rally stalled at a technical confluence near 79.048–79.310 — the Mid Bollinger Band, the RSI 60 level and a downward trendline — which has transitioned from support to active resistance. RSI failed to reclaim 60, indicating weakening upside momentum and reinforcing that the bounce is corrective within a broader downtrend. Immediate support sits at the Fibonacci 0.236 level (75.274) with the market structure remaining intact until a confirmed close above the confluence resistance. The technical setup favors continuation of the corrective/downtrend unless price decisively breaks above the resistance zone.