21:02 UTC
Downtrend from late-Jan blowoff, basing near 75 · RSI 47 · price 75.575
Broad range 70-90 after capitulation, compressing into 74-78 over last 3 weeks.
Silver remains in a multi-month downtrend following the late-January blowoff from 121 down to 64, with price now basing in a 70-90 range. Last three weeks have compressed into a tight 74-78 coil with RSI back near 47, sitting just below both EMA20 and EMA50 which are flattening. The May rejection at 89 reaffirmed the range cap, and price is now testing the lower half of that range near 75.
Support: 74.20, 71.20
Resistance: 78.50, 83.50
What it said to watch
- D1 close below 74.20 range floor opens path toward 71.20 swing low
- D1 close above 78.50 range cap shifts the read back toward 83.50 May high
- EMA20/EMA50 cross while price holds above would mark trend transition