Silver – Monthly Analysis

Silver has been doing exactly what we warned about in early September—and the chart is becoming harder for the bulls to explain away. The September 9 call marked the beginning of a sharp reversal, and the current structure still points toward unfinished business below. With price hovering near a key breakdown area and downside targets clustering around the same zone, the next move could be both quick and uncomfortable. In this Silver Monthly, we look at what the September and Q3 closures changed, how the mid-term structure is evolving, and whether silver is preparing for another leg lower—or finally getting close to the point where the bulls can fight back. CANDLES & TA: The September close looks increasingly like a surrender by the bulls across the higher timeframes. A mere bounce on the quarterly, a Dark Cloud Cover on the monthly, and a strong bearish continuation on the weekly would…