Every read JAFX AI made on the XAG/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:05 UTC
Downtrend cooling into range · RSI 52 · price 58.284
Range-bound after May-July markdown.
Silver topped near $89 in early May and shed roughly 40% into the mid-July low at 54.77, and price still sits below a falling EMA(50). The last seven weeks have compressed into a 56–60 range, with the recent bounce off 56.57 toward the $60 handle tied to softer USD and collapsing oil easing the inflation read. Demand has stepped in twice around 55–56 while the $60 pivot keeps capping rallies.
Support: 56.57, 54.77
Resistance: 60.00, 62.24
What it said to watch
- Daily close above 60.00 opens the path back toward the 62.24 swing high
- Loss of 56.57 exposes the 54.77 yearly low
- ADP and ISM Services Wed could break the 56–60 range either way
21:05 UTC
Downtrend, basing near lows · RSI 52 · price 58.284
Range-bound after multi-week decline.
Silver collapsed roughly 40% from the early-May peak near 89.36 into the yearly low around 54.77, and has since spent six weeks basing between 56.55 and 60.00. Price is back near 58.28 after the recent bounce off 56.57 — helped by collapsing oil easing the inflation/USD channel — but sits below a still-declining EMU(50) with the 60.00 handle capping. RSI has cycled back to neutral around 52 as the range compresses.
Support: 54.77
Resistance: 60.00, 62.243
What it said to watch
- D1 close above 60.00 opens the path back toward the 62.24 swing high
- Failure to hold 56.55 exposes the 54.77 yearly low
- ADP + ISM Services Wed could break the 56.55-60.00 range