Hi Traders! Silver short term forecast update and follow up is here. On April 30th, 2025 I shared this “Silver Technical Analysis And Short Term Forecast” post in our blog. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the  Home Trader Club. Spoiler alert – free memberships are available!

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My Idea

On the H1 chart, we could see that currently we have a strong bearish momentum here as well. In addition to this, the ADX indicator gave bearish signal here as well at the cross of -DI (red line) versus +DI (green line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bearish pressure. Also while measuring this strong bearish move we have two key resistance zones that has formed. The first key resistance zone is formed based on the 23.6%(32.549) – 38.2%(32.766) Fibonacci retracement levels of the strong bearish move. The second key resistance zone is formed based on the 50%(32.942) – 61.8%(33.118) Fibonacci retracement levels of the strong bearish move. Until both these key resistance zones shown in the image below (marked in red) holds my short term view remains bearish here and I expect the price to move lower further after pullbacks.

Silver H1(1 Hour) Chart Current Scenario

Based on the above-mentioned analysis, on the H1 chart, my short term view was bearish in Silver and I was expecting the price to move lower further until the two key resistance zones hold. The price action followed my analysis exactly as I expected it to here. After the strong bearish move, the price which was moving higher reached the second key resistance zone, created a false break of it and then it moved lower and delivered a nice move to downside!

On the M15 chart, the market provided us with various facts supporting the bearish view. The price which was moving higher created a bearish divergence between the first high that has formed at 33.098 and the second high that has formed at 33.227 based on the MACD indicator, which we may consider as evidence of bearish pressure. The price then moved lower and broke below the most recent uptrend line. We may consider these as facts provided by the market supporting the bearish view and also there were no signs opposing this bearish view. Then as you can see in the image below how the price moved lower further and provided a wonderful move to the downside.

As traders we always have two choices, the first one is to fall in love with our analysis and try to convince the market and expect the price to move in the direction as per our wish. The second one is to follow the facts that the market provides us and make the right actions according to that. As you know the first option won’t help us and as you can see in the example above what happened when we followed the facts that the market hinted to us and took the right action according to that.

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Happy Trading!

Arvinth Akash
Home Trader Club Team.