SILVER Timeframe H4 
Based on the SILVER H4 timeframe chart, the current price is around 66.195, after previously undergoing a decline from the 67.27 area down to near 62.74, then gradually recovering. Technically, the latest condition shows that Silver has begun to regain bullish momentum, mainly because the price has moved back above the MA 100 and MA 200. Nevertheless, the price is still positioned below an important horizontal resistance so further confirmation is needed to see whether this recovery can develop into a continuation of the uptrend or instead face selling pressure again. Looking at the movement structure from late July to mid-August, Silver showed a fairly significant change in character. At the beginning of the chart period, the price was in the 57–60 area and then formed gradual increases. After successfully passing the 60.830 and 62.743 areas, bullish momentum strengthened until the price reached the 67–69 area. Even at the end of August, Silver experienced a sharp spike up to near 71.092. However, after reaching that area, profit taking occurred which caused the price to correct quite deeply. That decline brought the price back to the 62.743 area before a rebound finally occurred. From the MA 100 perspective, the blue line on the chart shows that this moving average previously experienced a clear rise during the August bullish phase. After the price corrected in early September, the MA 100 began to flatten. This condition indicates that the medium-term bullish momentum had temporarily lost strength. However, the latest development is quite interesting because the price is back above the MA 100. The last price around 66.195 also appears to be slightly above the MA 100 line, which is roughly in the 65.9–66.0 area. This position indicates that buyers are beginning to regain control of the medium-term movement. The MA 200, shown with the red line, also provides important information. The MA 200 is lower than the MA 100, roughly around the 64.8–65.0 area, and its slope still tends to be positive although not very steep. The fact that the MA 100 remains above the MA 200 is a structure that generally supports a bullish bias. In addition, the current price being above both moving averages shows that the selling pressure that occurred in early September has not completely altered the bullish structure formed since late July. However, the current price position needs attention because Silver is approaching the horizontal resistance at 67.271. That level is clearly visible on the chart and has acted as a price reaction area several times. In early September, the price moved around 67.27 but failed to hold that position. After that, the price declined again. Therefore, 67.271 becomes an important confirmation level in the next price development. If the price is able to break that level with a strong H4 candle and then hold above it, the chances of continuing the rise will become more open. The next resistance is around 69.660. This level is very important because it previously served as a consolidation area before Silver surged toward 71.092 at the end of August. Thus, 69.660 can become a supply area that may generate selling action if the price approaches it again. If 67.271 is successfully broken but the price then stalls at 69.660, that condition can still be considered a consolidation or retracement phase within the uptrend. A break of 69.660 will open room toward the next major resistance at 71.092, which is the highest peak on the chart. The 71.092 level is a very important major resistance. This area was the extreme point in the late August movement and so far has not been successfully reclaimed on the chart. If Silver is able to validly break that level on the H4 timeframe, the bullish structure will gain stronger confirmation because the market would have made a new high. Conversely, failure to break 71.092 could trigger the formation of a double top or at least a rejection at that major resistance. On the support side, the 64.543 area is the nearest support that needs attention. This level is not far below the current price and is also close to the MA 200. The combination of horizontal support and the MA 200 makes the 64.54–65.00 area a fairly important technical zone. If the price corrects but remains above this area, the bullish structure is still relatively intact. Conversely, if the price breaks 64.543 and also moves below the MA 200, bearish pressure may increase again. The next support is around 62.743. This level is significant because it managed to hold Silver’s decline in mid-September. From that area, the price then rebounded strongly back toward 67.27. Therefore, 62.743 can be considered a structural support. As long as the price can hold above it, the correction can still be considered part of normal fluctuations within the medium-term trend. Below 62.743 there are supports at 60.830, then 59.242, 57.961, and 56.529. Those levels become more relevant if a deeper decline occurs. In particular, the 60.830 area is a former important area in the formation of the previous bullish trend. If the price falls past 62.743 and 60.830, the medium-term bullish structure will begin to face more serious pressure. The latest candle movement shows that after forming a base around 62.74–63.00, Silver managed to create a series of rises toward the 66.00 area. In fact, the price is back above the MA 100 and MA 200. However, that rise has not been fully confirmed as a continuation of the bullish trend because the price still faces the 67.271 resistance. Therefore, the 67.271 area becomes a very important point to observe whether buyers can continue the momentum. If the price manages to break 67.271, the next technical scenario points to testing the 69.660 area. If momentum remains strong, the 71.092 resistance then becomes the next structural target. Conversely, if the price fails to break 67.271 and a strong rejection occurs, Silver could correct back toward the MA 100 or the 64.543 support. The price reaction in that zone will be an important indicator of buyer strength.
Conclusion, Overall, SILVER H4 currently has a technical structure that tends to be bullish, mainly because the price around 66.195 has returned above the MA 100 and MA 200, while the MA 100 remains above the MA 200. These conditions indicate that the medium-term trend structure has not lost its bullish character even though there was a sharp correction from the 71.092 area down to 62.743. The most important level in the short term is 67.271 as the nearest main resistance. A break and the price’s ability to hold above that level will strengthen the chances of a rise toward 69.660, then 71.092. Conversely, failure to pass 67.271 could trigger a correction toward 64.543, which is also close to the MA 200 area. If 64.543 can be maintained, the bullish structure still has a fairly good base. However, if that support is broken and the price settles below the MA 200, attention will shift to 62.743. Thus, 64.543–67.271 is an important zone to determine Silver’s next direction. As long as the price remains above the MA 100 and MA 200, the technical bias still supports a bullish recovery phase, but stronger confirmation will only be seen if the 67.271 resistance is successfully broken. Conversely, a renewed drop below the MA 200 will be a sign that the rebound is losing strength.
