Vertical impulse from 48.95, now a tight consolidation below the 52.44 week high.
Silver built a double bottom off Tuesday's London-session week low at 48.60 and Wednesday's Asian higher low at 48.95. It then ripped through the Monday high at 51.26 into the London open as the Democratic midterm sweep hit the USD. Since then the move has compressed into a 51.62–52.44 consolidation, with pullbacks holding a line of rising lows and the range floor coinciding with the 23.6% fib and EMA(20) near 51.63. RSI(14) has cooled to ~68 from overbought, and the 52.44 week high capped NY-session attempts despite mixed US data, still beneath the 53.50 channel top cited in the macro read.
Support: 51.62, 51.26, 48.60
Resistance: 52.44, 53.50
What it said to watch
H1 close above the 52.44 week high opens the path toward 53.00 and the 53.50 channel top
Loss of the 51.62 range floor (23.6% fib / EMA20) and the rising lows line shifts focus to the 51.26 monday high near the 38.2% fib
A return below the 48.95 higher low and 48.60 week low would negate the double bottom
Thu 13:30 UTC jobless claims and Fed's Hammack at 13:50 could materially shift this read
Fri 13:30 UTC NFP (f/c 65K) and AHE is the main event risk for the consolidation
Silver reversed vertically from 48.946 in late Asia on Wednesday and cleared the 51.26 monday high by London open as the Democratic midterm sweep weighed on the USD. That move left the 49.333 weekly open far behind. Since then price has compressed in a 51.59–52.44 range through London and NY. Rising lows are holding above EMA(20) near 51.63 and the 23.6% retracement of the rally, while RSI(14) has eased to the high 60s. The week high at 52.444 sits just above last Thursday's prior high at 52.367, and that pair is capping each push.
Support: 51.63, 51.588, 51.26
Resistance: 52.367, 52.444, 53.50
What it said to watch
H1 close above the 52.444 week high clears the prior high zone and opens a test of the 53.50 channel top
Close below the 51.588 pullback low and EMA(20) breaks the rising-lows sequence and exposes the 51.26 monday high
Thu 13:30 UTC jobless claims and unit labor costs, then Fed's Hammack, could materially shift this read
Fri 13:30 UTC NFP and average hourly earnings are the main event risk for the post-election rally
Range break above 51.26, consolidating below week high.
Silver reversed vertically from the 48.95 Asia-session low on Wednesday as the Democratic midterm sweep hit the USD, clearing the 51.26 monday high and the Monday–Tuesday 48.60–51.26 range within three bars. London and NY have since compressed in a 51.62–52.44 band under the week high, printing higher lows along the consolidation, with the rising ema20 now meeting the 23.6% retracement of the Wednesday impulse near 51.62. RSI(14) near 69 has stayed just below overbought, and the mixed ADP beat and ISM Services miss in NY did not dislodge the band.
Support: 51.62, 51.26, 50.55
Resistance: 52.44, 53.50
What it said to watch
H1 close above the 52.44 week high, which also clears the Oct 29 high at 52.37, opens the path toward the 53.50 channel top
A break of the consolidation lows trendline and the ema20 near 51.62 would point to a deeper retracement of the Wednesday impulse, with the 38.2% level near 51.11
A close back below the 51.26 monday high would mark the range break as a false break, with the 50.55 tuesday high next
A new high above 52.44 on a lower RSI reading would set up a bearish rsi divergence
Thu 13:30 UTC jobless claims, unit labor costs and Fed's Hammack, then Fri NFP and AHE, could materially shift this read
The week opened at 49.33. Monday's bounce to 51.26 faded through Tuesday's London session to a 48.60 week low. Today's Asia-session surge on the Democratic sweep and a softer USD then carried silver from 48.95 through the Monday high in three bars. Since then price has ground into a 51.59–52.44 consolidation. The range low aligns with a rising EMA(20) and the 23.6% fib of the impulse, and RSI(14) sits near 68, just shy of overbought. The 52.44 week high sits a few cents under Thursday's 52.52 prior high, with supply capping each push into that area today.
Support: 51.59, 51.26, 50.55
Resistance: 52.444, 52.518, 53.50
What it said to watch
H1 close below the 51.59 range low and EMA(20) exposes the 51.26 Monday high, then the 38.2% fib near 51.11
Acceptance above the 52.44 week high and 52.52 prior high opens the path toward the 53.50 channel top
A break of today's rising-lows line would mark the first loss of momentum inside the consolidation
Failure to hold the 50.55 Tues high would unwind most of the post-election impulse
Thu 13:30 UTC Claims/Unit Labor Costs and Fri 13:30 UTC NFP (f/c 65K) could materially shift this read
Silver printed a 48.95 higher low against Tuesday's 48.60 week low, then broke Monday's 51.26 high and the falling trendline from last Thursday's 52.52 during Wednesday's Asia-to-London transition. The $3.50 impulse came as USD and yields slid after the Democratic midterm sweep. Since then price has compressed in a 51.62–52.44 band through London and NY, with the miss in ISM Services adding little range. The week high at 52.44 sits just under the 52.52 prior high, EMA(20) near 51.52 is rising beneath, and RSI(14) has eased to the mid-60s from overbought; the 51.62 pullback low lines up with the 23.6% retracement of the impulse.
Support: 51.62, 51.52, 51.26
Resistance: 52.444, 52.518, 53.50
What it said to watch
H1 close below the 51.62 pullback low would mark the first lower low since the breakout and expose ema20 and the 51.26 monday high
Acceptance above the 52.44 week high and 52.52 prior high opens the 53.50 channel top
Thu 13:30 UTC Initial Claims and Unit Labor Costs, then Fri 13:30 UTC NFP and AHE, could materially shift this read
A return below the broken falling trendline and 51.26 would undercut the double bottom breakout
Double bottom breakout above 50.55, tight band below week high.
Silver opened the week at 49.33 and printed a higher low at 48.95 early Wednesday after Tuesday's London low at 48.60. It then broke through the 50.55 tue high late in the Asia session as the Democratic midterm result hit the USD and yields, completing the week rally. Since London the move has held a 51.62–52.44 band: the ADP beat only produced a dip to the ny low at 51.62, and the mixed PMIs did not stop a push to a fresh week high at 52.44, with EMA(20) near 51.47 trailing well below and RSI(14) near 69. Last Thursday's prior high at 52.66 is the next layer overhead, and the 53.50 channel top sits above that.
Support: 51.62, 51.47, 50.55
Resistance: 52.44, 52.66, 53.50
What it said to watch
H1 close above the 52.66 prior high clears last Thursday's breakdown level and opens the 53.50 channel top
Loss of the 51.62 ny low and the ema20 near 51.47 would mark the first lower low since the breakout
Return below the 50.55 tue high would negate the double bottom breakout read and expose the 38.2–50% retracement of the week rally
Jobless Claims Thu 13:30 UTC and NFP Fri 13:30 UTC could materially shift this read
Breakout above Monday high, now a tight range below 52.34.
Silver printed a higher low at 48.95 versus Tuesday's 48.60 week low, then ripped roughly 2.1 points in the Asia session as the Democratic midterm result hit the USD and yields. The move cleared Monday high at 51.26 and the downtrend line from late October. Since London it has held a 51.59–52.34 range with RSI(14) near 78, and mixed US data (ADP beat, ISM Services and PMI misses) failed to break the range low or push through the session high.
Support: 51.59, 51.38, 51.26
Resistance: 52.344, 52.50, 52.755
What it said to watch
H1 close above the 52.50 psych level opens the prior high at 52.755 from last Thursday
Loss of the 51.59 range low exposes ema20 near 51.38 and the Monday high at 51.26; a deeper fade toward the 38.2% of the Wednesday rally (~51.05) would undercut the breakout read
Overbought RSI(14) with flat price in the range raises the risk of a momentum fade into the ema20
Thursday 13:30 UTC jobless claims and Hammack, then Friday NFP (f/c 65K), could materially shift this read
Range break above Monday high; tight flag below 52.28 session high.
Wednesday's late Asia-session impulse lifted silver from 48.95 to above 52.00. It cleared the week's range and the 51.26 Monday high, with higher lows at 48.60 Tuesday and 48.95 today. The driver was the Democratic midterm win, which weakened the USD and pulled yields lower. Since London, price has compressed in a flag between the 51.62 range floor and the 52.28 session high, holding above EMA(20) with RSI(14) at about 72. Mixed US data (ADP beat, ISM Services and S&P PMIs missed) did not dent the move, and last Thursday's 52.50 prior high sits just overhead.
Support: 51.62, 51.26, 49.33
Resistance: 52.28, 52.50, 52.755
What it said to watch
H1 close above the 52.50 prior high clears last Thursday's supply and opens the 52.755 window high
Loss of the 51.62 range floor breaks the flag and exposes the 51.26 Monday high and the 38.2% retracement of the Wed impulse near 51.00
A return below the 49.33 weekly open would undo the higher lows and the range break
Thu 13:30 UTC Jobless Claims and Hammack, then Fri 13:30 UTC NFP and AHE, could materially shift this read
Silver printed a higher low at 48.95 in Wednesday's Asia session versus Tuesday's 48.60 week low. The Democratic midterm sweep then drove a vertical leg through the Tuesday high at 50.55 and the Monday high at 51.26, completing a double bottom. Since London open price has compressed between the 51.59 pullback low and the 52.28 session high, well above EMA(20). RSI(14) is holding near 73 in overbought territory without a fresh push, just under the 52.50 resist zone and Thursday's 52.76 prior high, where last week's breakdown began.
Support: 51.59, 51.26, 50.55
Resistance: 52.28, 52.50, 52.755
What it said to watch
ISM Services at 15:00 UTC (f/c 54.8) could materially shift this read. A hot print on top of the ADP beat would test the squeeze; a soft one puts the 52.50 resist zone in play.
An H1 close above the 52.50 resist zone opens the path to the 52.76 prior high.
Loss of the 51.59 pullback low exposes the Monday high at 51.26 and the 38.2% retracement of Wednesday's rally near 51.01.
A move back below the Tuesday high at 50.55 would undercut the double bottom read, with the higher-lows line from 48.60 underneath.
Base at 48.60–48.95 resolved higher; lower-highs line broken, range below 52.23.
Silver dipped to 48.95 in the Asia session, a third hold above the 48.60–48.95 lows of Friday and Tuesday. It then squeezed about 330 cents through London open as the Democratic sweep sank USD and yields, breaking the lower-highs line from last Thursday. Since the 52.23 week high, price has tightened beneath the prior range at 52.30–52.60, where last Thursday's breakdown started. The ADP beat produced only a dip to the 51.62 pullback low, and ema20 near 51.20 sits well below with RSI(14) holding in overbought territory.
Support: 51.62, 51.20, 50.55
Resistance: 52.23, 52.50, 53.07
What it said to watch
ISM Services PMI at 15:00 UTC (f/c 54.8) could materially shift this read. A hot print has room to retrace the impulse toward the 38.2% fib near 50.98.
H1 acceptance above the 52.50 prior range opens the 53.07 prior high.
Failure to hold the 51.62 pullback low exposes ema20 near 51.20, then the tue high at 50.55.
Repeated rejection at the 52.23 week high as RSI rolls out of overbought would mark a stall after the breakout.
A break below the higher-low line through 48.60–48.95 would negate the triple bottom.
Silver reversed from Wednesday's late-Asia low at 48.95 in a roughly $3.3 impulse into the London open. USD selling on the Democratic midterm sweep drove the move, which cleared Monday high at 51.26 and the broken downtrend of lower highs from Monday's spike. Since then price has compressed into a 51.59–52.23 band, holding above the pullback low and just under the week high. RSI(14) sits near 72, EMA(20) trails near 51.0 beside the 38.2% fib, and the prior range at 52.32–52.50 from last Thursday sits overhead.
Support: 51.59, 51.26, 50.00
Resistance: 52.234, 52.50, 53.073
What it said to watch
ADP at 13:15 UTC and ISM Services at 15:00 UTC (Prices Paid) could materially shift this read
H1 close above the 52.50 prior range exposes the oct 29 high at 53.07
Loss of the 51.59 pullback low opens Monday high at 51.26 and the 38.2% fib of the Wed impulse near 50.98
Break back below 50.00 psych undercuts the higher lows read off 48.60/48.95
Silver printed a week low at 48.60 on Tuesday, then set a higher low at 48.95 in Wednesday's Asia session before a 3.3-dollar squeeze through late Asia into London open, as the Democratic midterm sweep sank yields and the USD. The move cleared the monday high at 51.26 and tagged a week high of 52.23, with RSI(14) near 72 and range compressing just below the 52.50 psych area. The higher lows trendline and the fib on this week's range put the 38.2% retracement near 50.85, above the 50.00 round number.
Support: 51.26, 50.00, 48.60
Resistance: 52.234, 52.50, 53.073
What it said to watch
ADP 13:15 UTC and ISM Services 15:00 UTC could materially shift this read via December hike pricing
H1 close above 52.50 psych opens the path to the 53.07 prior high
Failure to hold the 51.26 monday high would mark the breakout as a false break
Close back below the 50.00 round number puts the 48.60 week low and the higher lows trendline back in play
Higher low at 48.95, impulsive breakout above Monday high.
Silver set Tuesday's 48.60 week low and a higher low at 48.95 in Wednesday's Asia session. It then rallied more than $3 into London, through the 51.26 Monday high and the lower-high line from last Thursday, as the Democratic midterm sweep pulled yields and the USD lower. Price sits well above EMA(20) and EMA(50) with RSI(14) near 75 after a near-vertical leg and is pressing the 52.36 prior shelf from last Friday. The Tuesday high at 50.55 sits between the 38.2% and 50% levels of the fib on the rally.
Support: 51.26, 50.55, 48.95
Resistance: 52.36, 53.07
What it said to watch
ADP at 13:15 UTC and ISM Services at 15:00 UTC could materially shift this read; a hot print risks fading the breakout
H1 close above the 52.36 prior shelf opens the path to the 53.07 prior high
Return below the 51.26 Monday high would mark the breakout as a false break
Loss of the 48.95 higher low and the higher-low line would reinstate the downtrend
Lower-highs line broken; tight consolidation under prior high.
The week opened at 49.33. NY-session bounces on Monday (51.26) and Tuesday (50.55) both faded, leaving a lower-highs line above the 48.60 week low. Today's late-Asia-into-London impulse, on the USD-negative read of the midterm sweep, broke that line and the 48.60–50.55 range, adding roughly $3 to a 52.07 session high. RSI(14) is near 74 and price sits well above EMA(20) and EMA(50), consolidating above the 51.59 pullback low just beneath the 52.36 prior high from late October.
Support: 51.59, 51.26, 50.55
Resistance: 52.07, 52.36, 53.07
What it said to watch
ADP (13:15 UTC) and ISM Services (15:00 UTC) could materially shift this read after a near-vertical move
H1 close above the 52.36 prior high extends the breakout toward the 53.07 oct 29 high
Loss of the 51.59 pullback low opens a retrace toward the 51.26 monday high
A return below the 50.55 tuesday high, near the 50% of today's impulse, would repeat Monday's faded-bounce pattern
Higher low at 48.95, then breakout above Monday high.
Silver spent Friday and Tuesday printing lows in the 48.60–48.95 area, with Monday's rebound capped at 51.26 before fading. Wednesday's Democratic sweep and softer USD drove a near-vertical move from the Asian session into the London open, breaking the week's lower-highs line and clearing the Monday high to a 51.963 session high, with RSI(14) pressing toward 70. Price now sits under the Oct 29 high at 52.367, the lower edge of the 52.32–52.50 resistance zone.
Support: 51.26, 50.81, 50.00
Resistance: 51.963, 52.367, 53.073
What it said to watch
H1 close back below the 51.26 Monday high would turn the breakout into a false break
Pullback holding the fib 38.2% near 50.81 keeps the impulse structure intact; loss of 50.00 psych reopens the 48.60–48.95 lows
Acceptance above the 51.963 session high and the 52.367 Oct 29 high would challenge the downtrend; 53.07 window high sits beyond
ADP 13:15 UTC and ISM Services 15:00 UTC could materially shift this read via Fed-hike pricing
08:04 UTC
Downtrend on the week, sharp counter-trend squeeze · RSI 69 · price 51.609
Lower-high sequence broken above Monday's 51.26 high; higher low at 48.95 over 48.60.
Silver ripped from a 48.95 higher low in late Asia into early Europe today. It cleared Monday's 51.26 high and the lower-highs line from the start of the week on the Democratic Congress sweep and USD weakness, and is now pausing just under the 51.84 week high. Price is stalling at the 61.8% retrace of the 53.50–48.60 decline, with RSI(14) near 69 and price well above ema20 (~50.26). The 48.60/48.95 lows and today's break form an inverse h&s-style base, while the 52.00 round number and the 52.32–52.50 former range floor sit directly overhead.
Support: 51.26, 51.05, 50.26
Resistance: 51.836, 52.00, 52.50
What it said to watch
ADP at 13:15 UTC and ISM Services at 15:00 UTC today could materially shift this read
An H1 close back below the 51.26 monday high would turn the breakout into a false break
Acceptance above the 52.00 round number and the 52.50 range floor would take the squeeze beyond the 78.6% retrace
A drop through the fib 50% at 51.05 and ema20 near 50.26 would expose the 48.95 higher low and the 48.60 week low
Week high at 51.84 is the first test, with rejection or break both in play
Lower-high sequence broken; three-low base at 48.60–48.95 with higher lows.
Silver ran from 48.95 to a 51.84 week high in Wednesday's Asia session as USD was sold on the Democratic sweep of Congress. The move cleared the 51.26 Monday high and the lower-high line that had capped the slide since Thursday. Higher lows at 48.60 and 48.95 now form a three-low base, price sits at the 61.8% retracement of the 53.51–48.60 decline, and RSI(14) near 71 is in overbought territory. EMA20 at 50.15 sits well below after the impulse, and the 52.00 round number and 52.36 prior shelf mark where last Thursday's breakdown started.
Support: 51.26, 50.547, 50.15
Resistance: 51.836, 52.00
What it said to watch
ADP at 13:15 UTC and ISM Services at 15:00 UTC could materially shift this read
Holding above the 51.26 Monday high keeps the breakout intact; slipping back below it reopens the 50.55 tuesday high
H1 close above the 52.36 prior shelf clears the 78.6% zone of the 53.51–48.60 decline
Return below the higher lows at 48.95 voids the base and resumes the lower-low sequence
Week range 48.60–51.26; higher low at 48.95, Tuesday high broken.
Silver surged about 4% late in the Asia session off the 48.95 higher low as USD slid on the Democrats' midterm sweep. The rebound cleared Tuesday's 50.55 high and the lower-high line from Oct 29, and price is now pressing Monday's 51.26 week high. Price sits well above EMA(20) near 49.91, with RSI(14) near 68 after cycling from the low 40s. The week so far is a 48.60 week low to 51.26 week high range, and the latest leg is testing its top.
Support: 50.547, 49.91, 48.599
Resistance: 51.26, 52.32
What it said to watch
H1 close above the 51.26 week high breaks the lower-high sequence and opens the 52.32 prior base
A move back below the 50.55 Tuesday high would mark the Asia surge as a false break inside the range
ADP at 13:15 UTC and ISM Services at 15:00 UTC today could materially shift this read; a hot print revives the downtrend
A break of the higher-lows line (48.60/48.95) puts the 48.60 week low back in play
Lower highs from Monday's 51.26 against higher lows since Tuesday's 48.599.
Silver gave back Monday's NY-session spike to 51.26 and printed a week low at 48.599 in Tuesday's London session as oil-driven Fed-hike fears returned. Lower highs at the 50.547 Tuesday high and the 50.178 Asia high track a descending line since. Wednesday's Asia dip held the 48.946 Asia low for a higher low, and USD softness on early midterm tallies lifted price back above the ema20 near 49.67. Price is now testing the 50% fib of the Mon-Tue drop just under the 50.00 ema50/psych cluster, while RSI(14) has recovered to ~54 from ~28 on Tuesday.
Support: 49.67, 48.946, 48.599
Resistance: 50.00, 50.178, 50.547
What it said to watch
H1 close above the 50.178 Asia high breaks the descending line from Monday's 51.26 and brings the 50.547 Tuesday high into view
Rejection at the 50.00 ema50/psych cluster keeps the lower-high sequence intact
Failure to hold the 48.946 Asia low voids the higher-low read; a break of the 48.599 week low resumes the downtrend sequence
ADP (13:15 UTC) and ISM Services (15:00 UTC) today could materially shift this read via December hike odds
Lower highs from 51.26; lows clustering 48.60–48.95.
Silver has printed lower highs all week, at 51.26 in Monday's NY session, 50.55 in Tuesday's NY session and 50.18 in today's Asian session. Each high was rejected along the lower-highs trendline, while Tuesday's London slide to the 48.60 week low came on Iran-strike headlines and firm December hike pricing. Monday's high stalled near 46% of the 54.37–48.60 decline. Price now sits below the 49.33 week open, the ema20 near 49.58 and EMA(50) near 49.99, with RSI(14) around 37. Today's Asia low at 48.95 and Friday's low (fri low) at 48.85 are the nearest floors above the week low.
Support: 48.946, 48.851, 48.599
Resistance: 49.333, 49.58, 50.178
What it said to watch
H1 close below the 48.60 week low extends the lower-low sequence to fresh window lows
Failure to hold the 48.95 asia low and 48.85 fri low exposes the week low
Recovery above the 50.18 asia high and the lower-highs trendline breaks the lower-high sequence
Acceptance back above the week open and ema20 would turn the pullback into a range read
ADP (13:15 UTC) and ISM Services (15:00 UTC) could materially shift this read, alongside midterm and US-Iran oil headlines
Lower highs under a descending trendline; 48.60–50.55 swing range since Tuesday.
Silver has printed lower highs all week, each capped by a descending trendline: 51.26 on Monday's NY-session oil-driven pop, 50.55 on Tuesday's early-NY spike and 50.18 in today's Asia session. Tuesday's London-session slide set the week low at 48.60, beneath Friday's low at 48.85. The rebound off it faded as the JOLTS and Factory Orders beats firmed December hike pricing. Price now trades below the 49.33 weekly open and EMA(20) near 49.61, with RSI(14) near 40 and the Asian low at 49.12 the nearest test.
Support: 49.12, 48.85, 48.60
Resistance: 49.33, 49.61, 50.18
What it said to watch
Hourly close below the 48.85 friday low exposes the 48.60 week low and the yearly-low zone
Reclaim of the 49.33 weekly open and EMA(20) / fib 38.2% near 49.61 would stall the lower-high sequence
Close above the 50.18 lower high breaks the descending trendline
ADP 13:15 UTC (f/c 69K) and ISM Services 15:00 UTC (f/c 54.8) could materially shift this read; soft prints have triggered outsized short-covering spikes this week
Overnight midterm results and US-Iran/oil headlines remain a two-way volatility source
Lower highs 51.26/50.55/50.18; tight range 49.37–50.18.
Monday's NY-open short-covering pop to the 51.26 week high failed to hold. Tuesday's Asia and London sessions extended the downtrend to a 48.60 week low, as Iran-strike headlines and JOLTS/Factory Orders beats revived December hike pricing. The NY-open rebound to the 50.55 Tuesday high printed another lower high, and price has since compressed between a 49.37 range floor and the 50.18 range top, which was rejected in Wednesday's Asia session despite the midterm-driven USD dip. Price sits just below EMA(20) near 49.70 and on the 38.2% fib at 49.62, with RSI(14) recovered to ~45 from Tuesday's oversold reading.
Support: 49.37, 48.85, 48.60
Resistance: 50.18, 50.55, 51.26
What it said to watch
H1 close below the 49.37 range floor exposes the 48.85 Friday low and the 48.60 week low
Close above the 50.18 range top, where the lower-high trendline now sits, breaks the lower-high sequence and puts the 50.55 Tuesday high in play
Acceptance above the 50.55 Tuesday high opens the 51.26 week high and the 61.8% fib area is left behind
ADP (13:15 UTC) and ISM Services (15:00 UTC) today, plus ongoing midterm results, could materially shift this read
01:04 UTC
Downtrend, compressing after a lower high · RSI 45 · price 49.674
Lower high at 50.55 below Monday's 51.26; 49.39–49.94 range since NY.
From the 49.33 weekly open, silver ran to a 51.26 week high into Monday's NY open as oil eased. It then reversed through Asia and London Tuesday on the Qeshm strike headlines and hike-pricing beats, undercutting Friday's 48.85 low to a 48.60 week low before a sharp NY rebound. That rebound stalled at the 50.55 Tuesday high, leaving a lower high, and price has since compressed between the 49.39 swing low (tested twice) and the overnight 49.94 high near the 50% retracement. Price is pinned around EMA(20) near 49.71, below EMA(50) near 50.10, with RSI(14) flat in the mid-40s.
Support: 49.39, 48.60
Resistance: 50.00, 50.55, 51.26
What it said to watch
H1 close below the 49.39 swing low reopens the 48.60 week low
Acceptance above the 50.00 round number and the 50% fib breaks the compression
Reclaim of the 50.55 Tuesday high breaks the lower-highs line; 51.26 week high next above
ADP 13:15 UTC and ISM Services 15:00 UTC Wednesday could materially shift this read
Overnight midterm results and US-Iran/oil headlines are a volatility source for the Asian range
Lower highs from 51.26; false break of Friday's low at 48.60, now compressing 49.37–50.00.
Silver set the week high at 51.26 in Monday's NY session on the oil-driven bounce. Tuesday's London-session slide, on the Iran/Qeshm strike headlines and the JOLTS and Factory Orders beats, undercut Friday's low to a 48.60 week low, then a sharp NY-hours rebound left a lower high at the 50.55 spike high. Price has since compressed between a 49.37 higher low and the EMA(50)/psych 50.00 area, holding just above EMA(20) near 49.75 with RSI(14) back around 52 and sitting near the 50% retracement of the Monday–Tuesday leg.
Support: 49.75, 49.37, 48.60
Resistance: 50.00, 50.547, 51.26
What it said to watch
H1 close above 50.00 (EMA(50)/psych) and the lower-highs line puts the 50.55 spike high back in play
Failure to hold the 49.37 higher low reopens the 48.60 week low and the 48.47–48.87 yearly-low zone
Rejection again at the 50.00 area keeps the lower-highs sequence from the 51.26 week high intact
Midterm results overnight, then ADP 13:15 UTC and ISM Services 15:00 UTC Wednesday, could materially shift this read