21:08 UTC
Downtrend, lower highs since late August · RSI 41 · price 60.352
Head and shoulders neckline broken; tight base just above 60.00.
Silver has rolled over from the 71.17 high of Aug 28. A lower-high sequence at 68.31 and 67.53 formed above a 62.30–63.30 neckline, which gave way in the Sep 28 slide as oil-driven inflation fears and the 10y at its highest since 2002 weighed on the metal. Price sits below both EMAs and through the 61.8% retracement of the Aug rally, and has spent five sessions in a 59.68–61.71 band under the range cap and just above the 60.00 round number, with Friday's soft NFP failing to lift it.
Support: 60.00, 56.557, 54.756
Resistance: 61.712, 62.303, 67.529
What it said to watch
- Daily close below the 60.00 round number exposes the 56.56 aug low, then the 54.76 ytd low
- Recovery through the 61.71 range cap and back above the 62.30 neckline would undercut the head and shoulders read
- Daily close above the 67.53 lower high and the lower-highs trendline would break the late-summer downtrend structure
- ISM Services Mon (f/c 55.7, prices paid) and FOMC Minutes Wed could materially shift this read via yields