On the H1 chart of XAGUSD, the market has been carving a descending channel since the early July swing high near 60.5. Each successive candle has produced lower highs and lower lows, with the latest bar closing at 57.60 and volume spiking on the down moves, indicating diminishing bullish pressure. However, the price action shows a classic oversold pattern: the last three candles formed a bullish engulfing at the lower boundary of the channel, and volume has tapered off, suggesting the sell‑off is losing steam. Technical support sits around the 57.5–57.6 area, aligning with the recent swing low and a…

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