22:07 UTC
Downtrend, extended and oversold · RSI 24 · price 49.78
Lower highs and lower lows since the late-September range breakdown.
Silver has printed a lower-high, lower-low chain since the 67.53 lower high on Sep 22 failed. The Sep 28 break below 63.00 ended the September range, and roughly weekly legs lower followed, each capped beneath the descending trendline. The 52.66–54.60 consolidation of the last week of October gave way after the Fed held and Chair Warsh reinforced December-hike pricing, sending price to an Oct low of 48.85. RSI in the low 20s marks a genuinely stretched condition, and Monday's open is holding just under the 50.00 psych level, with the broken low at 52.66 now overhead.
Support: 48.85
Resistance: 50.00, 52.66, 54.60
What it said to watch
- Daily close back above 50.00 psych would mark the first pause in the October slide
- Reclaim of the 52.66 broken low would turn the late-October breakdown into a false break
- Failure to hold the 48.85 Oct low extends the lower-low sequence
- Recovery stalling below the 54.60 lower high and the descending trendline keeps the downtrend structure intact
- US midterms Tue, then ADP and ISM Services Wed, could materially shift Fed-hike pricing and this read