19:02 UTC
Parabolic uptrend, deep correction underway · RSI 58 · price 73.972
Vertical advance into Q1 blow-off, distribution since.
Silver remains in a macro uptrend that turned parabolic from late Q4 into Q1, printing an all-time high near 121.63 before a violent rejection. Price has since carved a multi-month distribution between roughly 65 and 95, and currently trades in the lower half of that range below EMA(20) but well above a rising EMA(50) — macro trend intact, momentum exhausted. RSI has rolled from extreme overbought into mid-50s, registering a clear bearish divergence against the Q1 high.
Support: 64.04
Resistance: 82.74, 121.63
What it said to watch
- Weekly close below 64.04 confirms a lower-low and breaks the post-blow-off range floor
- Reclaim of 82.74 on a weekly close would repair the rounded top structure
- Loss of EMA(50), currently rising through the mid-50s, would mark a regime shift