Lower highs from 62.02, range break below 60, tight consolidation under EMA20.
Lower highs at 62.02 Monday and 61.85 Tuesday gave way on Wednesday. Steady selling through Asia and London broke the week's range below 60, and an NY-session flush hit the 58.98 week low, with the hawkish FOMC Minutes and 10Y yields near 5.3% then keeping the bounce capped. Since then price has held a 59.60–60.22 consolidation below EMA(20) near 60.07, a level that lines up with the 38.2% retracement of the sell-off, while RSI(14) near 35 is lifting off oversold and the weekly open at 60.63 sits above.
Support: 59.597, 58.978
Resistance: 60.07, 60.222, 60.632
What it said to watch
H1 close above the 60.22 range high and ema20 would mark the first break of the lower-low sequence, with the weekly open at 60.63 and the 50% sell-off retracement near 60.42 next
Failure to hold the 59.60 range low exposes the 58.98 week low and the $59 area
Fed's Waller (Thu 08:30 UTC) and Initial Jobless Claims (12:30 UTC, f/c 200K) could materially shift this read
A move back through the lower-highs trendline from 62.02 would undo the downtrend structure
Lower highs from 62.02, weekly range broken lower.
Monday's post-NFP push stalled at 62.02 and Tuesday's NY retest topped lower at 61.85. That set a lower-highs sequence that broke the week's 60.27–62.02 range on Wednesday, with the slide building through London and flushing to the 58.98 week low early in NY. The hawkish FOMC Minutes then capped the rebound at the 60.22 bounce high, and the fomc low at 59.60 printed after the release. Price is compressing in a tight band below a falling EMA20 near 60.10, with RSI(14) holding in the mid-30s and the weekly open at 60.63 well overhead.
Support: 59.597, 58.978
Resistance: 60.10, 60.222, 60.632
What it said to watch
H1 close back above the 60.10 ema20 and 60.22 bounce high breaks the lower-highs line and points toward the 61.8% retracement of the Wednesday slide near 60.76, just above the 60.63 weekly open
Failure to hold the 59.60 fomc low exposes the 58.98 week low; the digest flags $59 as the next trigger
Fed's Waller (08:30 UTC) and Initial Jobless Claims (12:30 UTC, f/c 200K) could materially shift this read
RSI(14) holding above its Wednesday trough on any retest of 58.98 would mark a bullish divergence
21:09 UTC
Downtrend, lower highs through the week · RSI 34 · price 59.778
Range break lower, post-drop consolidation below 60.
Silver broke below the Monday–Tuesday 60.27–62.02 range on Wednesday. The dominant leg came in the first hours of NY and printed a 58.978 week low, and the hawkish FOMC Minutes then kept rebounds capped below the 60.00 round number. Lower highs at 62.022, 61.853 and the 60.222 post-drop high define the sequence, with price under EMA(20) near 60.12 and EMA(50) and RSI(14) near 34 approaching oversold without divergence; the late-NY session low at 59.597 undercut Friday's 59.676 low.
Support: 59.597, 58.978
Resistance: 60.00, 60.222, 60.632
What it said to watch
H1 close below the 58.978 week low confirms a lower-low and extends Wednesday's range break
Reclaim of the 60.00 round number and the 60.222 lower high would neutralise the post-Minutes consolidation; the weekly open at 60.632, near the 61.8% fib of the Tue-Wed leg, is the next cap
Hold of the 59.597 session low keeps the 59.60–60.22 consolidation intact
Fed's Waller 08:30 UTC and Initial Jobless Claims 12:30 UTC (f/c 200K) on Thursday could materially shift this read
Lower highs/lower lows; bounce capped under 60.00.
Silver has carved lower highs since Monday's 62.022 week high, failing again at 61.853 on Tuesday. Wednesday's slide through Asia and London broke the 60.632 week open, then flushed to a 58.978 week low early in NY hours as 10Y yields pressed 5.35%. The rebound stalled at the 60.222 rebound high, just above the 38.2% fib, and price has held below the 60.00 psych/ema20 cluster since, slipping to a 59.597 session low after the FOMC Minutes even as yields reversed; RSI(14) near 33 sits above oversold.
Support: 59.597, 59.345, 58.978
Resistance: 60.00, 60.222, 60.632
What it said to watch
H1 close below the 59.597 session low exposes the 59.345 swing low and the 58.978 week low
Recovery above 60.00 psych/ema20 and the 60.222 rebound high would shift the read toward a range, with the 60.632 week open next
Lower-highs trendline from 62.022 (now near 61.7) remains the structural cap on the move
Fed's Waller (Thu 08:30 UTC) and Jobless Claims (12:30 UTC, f/c 200K) could materially shift this read via yields
Lower highs since Monday; post-sweep range 59.73–60.22.
Silver printed lower highs at 62.02 Monday and the 61.85 Tuesday high. Wednesday's slide from Asia through London, driven by 10y yields pushing toward 5.35% and a firmer USD, cut through the Friday low and flushed to a 58.98 week low before demand stepped back in. Since then, price has been compressing in a 59.73–60.22 band below the EMA(20) near 60.18, with RSI(14) near 33 and the 38.2% retracement of Wednesday's decline overhead at 60.08; the FOMC Minutes reaction has so far been contained inside that range.
Support: 59.676, 58.978
Resistance: 60.18, 60.632, 61.853
What it said to watch
H1 close above 60.22 and the ema20 near 60.18 would mark the first higher high since the week low, with the 38.2% retracement of Wednesday's decline at 60.08 the first test
Recovery of the weekly open at 60.63 would neutralise Wednesday's breakdown and bring the 50–61.8% zone (60.42–60.76) into play
Failure to hold the friday low at 59.68 on a closing basis exposes the 58.98 week low again
A break of the lower-high trendline toward the 61.85 tuesday high is needed to invalidate the downtrend read
Fed's Waller (Thu 08:30Z) and Initial Jobless Claims (Thu 12:30Z, f/c 200K) could materially shift this read via yields
Lower highs since Monday; new lower low below Friday's low, partially reclaimed.
Silver set lower highs at 62.02 on Monday and 61.85 on Tuesday. Wednesday's slide began in the Asia session, broke the weekly open at 60.632 and spiked to a 58.978 day low at the London-NY transition, as the 10Y yield pressed 5.35% and firmer oil lifted the USD. Price has recovered above the friday low at 59.676, but the ema20 near 60.22 capped the last hour and the 60.00 psych level sits just under the 38.2% of the Tue high–day low fib at 60.08. RSI(14) is back near 36 after a sub-30 dip.
Support: 59.676, 58.978
Resistance: 60.00, 60.222, 60.632
What it said to watch
FOMC Minutes at 18:00 UTC are landing now and could materially shift this read
H1 close back above 60.00 psych and the ema20 near 60.22 would weaken the lower-low read and bring the weekly open at 60.632 into view
Failure to hold the friday low at 59.676 reopens the day low at 58.978
Lower highs trendline from Monday's 62.02 stays intact while price holds below Wednesday's 61.47 high
Lower highs from Monday's 62.02, swept Friday's low, stalling under EMA20.
Silver has printed lower highs at 62.02 on Monday and 61.85 on Tuesday. Wednesday's steady London-session slide then flushed to the 58.98 week low around the London-NY transition, as a firm USD and yields near 5.35% weighed ahead of the FOMC Minutes. The break of the friday low at 59.68 was quickly reclaimed, but price is stuck below the 60.00 psych and the ema20 near 60.28. RSI(14) sits near 29 and the bounce has retraced less than 38.2% of the Wednesday selloff fib.
Support: 59.676, 58.978
Resistance: 60.00, 60.28, 60.632
What it said to watch
FOMC Minutes at 18:00 UTC could materially shift this read within the next bar or two
H1 close back below the friday low at 59.68 turns the sweep into a fresh leg toward the week low at 58.98
Reclaim of the 60.00 psych and ema20 near 60.28 puts the 38.2–50% Wednesday selloff fib zone (60.08–60.42) in play
Recovery above the weekly open at 60.63 would neutralise Wednesday's breakdown; the lower highs line from 62.02/61.85 caps above
Lower highs from 62.07; week low swept at 58.98, price back above Friday low.
Lower highs at 62.07 (Friday's NFP spike), 62.02 Monday and 61.85 Tuesday frame the week. Today's slide through the Asia and London sessions broke Tuesday's 60.27 low, then a first-hour-of-NY flush printed the sweep low at 58.98 as yields near 5.35% and Brent above $100 kept the USD bid. Price has since climbed back above the Friday low at 59.68 but sits below EMA(20) near 60.33 and the 60.63 weekly open, with RSI(14) near 35. The 60.00 psych level overhead lines up with the 38.2% retracement of the decline fib.
Support: 59.676, 58.978
Resistance: 60.00, 60.33, 60.632
What it said to watch
FOMC Minutes at 18:00 UTC (~2h) could materially shift this read
H1 close back below the 59.68 friday low reopens the 58.98 sweep low
H1 closes above EMA(20) near 60.33 and the 60.63 weekly open would test the decline fib 61.8% at 60.75
Lower highs line near 61.70 caps the structure; a close above it breaks the lower-highs sequence
US 10y yield vs its 5.35% high and today's 10y auction remain the main driver of this move
Silver has printed lower highs since Monday's 62.02 London-session peak. Tuesday's tue high at 61.85 marked the next cap, and Wednesday's steady Asia-to-London slide took out Tuesday's 60.27 low. Firmer yields and USD ahead of the FOMC Minutes extended the drop into the first hour of NY, wicking to a 58.98 week low before price retraced back toward the 59.68 friday low. Price trades well under the 60.632 weekly open and below EMA(20), with RSI(14) near 29 and ATR expanded after the 130-cent NY-open bar.
Support: 59.676, 58.978
Resistance: 60.00, 60.632, 61.853
What it said to watch
FOMC Minutes at 18:00 UTC (~3h) could materially shift this read
H1 close back above 60.00 psych and the lower highs trendline challenges the downtrend read
Repeated H1 closes below the 59.68 friday low keep the 58.98 week low in focus
Reclaim of the 60.632 weekly open would neutralise Wednesday's range break
14:05 UTC
Downtrend, extended after range break · RSI 31 · price 59.654
Lower highs since Monday, broke below Friday low.
Lower highs at 62.02 Monday, 61.85 Tuesday and 61.47 early Wednesday traced a steady unwind from the week open at 60.63. Wednesday's slide ran from Asia through London before a flush during the London-NY transition hit a 58.98 week low, cutting through the 60.00 psych handle and Friday's 59.68 low as firm yields and a bid USD weighed ahead of the FOMC Minutes. Price has since held a 59.35–59.91 band just under the friday low, with RSI(14) near 31 and both EMA(20) and EMA(50) overhead.
Support: 59.345, 58.978
Resistance: 59.676, 60.00, 60.632
What it said to watch
Hourly close back above the friday low at 59.68 and 60.00 psych would turn the break into a false break
Failure to hold the 59.35 post-dip low exposes a retest of the 58.98 week low
Reclaiming the 60.63 week open, near the 61.8% fib of the Tuesday high to week low drop, breaks the lower-highs sequence
FOMC Minutes at 18:00 UTC (~4h) could materially shift this read
13:06 UTC
Downtrend, oversold after flush · RSI 27 · price 59.684
Lower highs since Monday, $60–62 range broken lower.
Silver has printed lower highs since Monday's 62.02 rejection. Tuesday's NY bounce stalled at 61.85, and Wednesday's steady slide from the Asia session took out the 60.27 tuesday low and the 60.00 psych. A London-NY transition flush hit a 58.98 session low before price recovered to sit on the 59.68 friday low, with firmer 10Y yields and the USD weighing into the FOMC Minutes. Price is below the EMA(20) near 60.50 with RSI(14) oversold around 27, and the ATR(14) has been inflated by the flush bar.
Support: 59.676, 58.978
Resistance: 60.00, 60.267, 60.50
What it said to watch
FOMC Minutes at 18:00 UTC (~5h) could materially shift this read
H1 close back above the 60.00 psych would mark the sub-60 move as a false break
Failure to hold the friday low at 59.68 leaves the 58.98 session low exposed
Reclaim of the 60.27 tuesday low and ema20 would neutralise the lower-high sequence
Silver has printed lower highs at the 62.02 week high on Monday and 61.85 into Tuesday's NY session. Today's slide from Asia through London erased that whole rally as 10Y yields climbed back toward 5.31%, setting a fresh week low at 59.96 just above Friday's post-NFP two-month low at 59.68. Price is back below the week open at 60.63 and under EMA(20) near 60.70, with RSI(14) dipping to ~30 at the low before recovering to the mid-30s.
Support: 59.964, 59.676
Resistance: 60.632, 61.131, 62.022
What it said to watch
H1 close below the 59.68 two-month low completes the double top off the twin highs near 62.0
Recovery above the week open at 60.63 and EMA(20) puts the 61.8% fib of the slide at 61.13 in focus
Break of the lower highs trendline and the 62.02 week high negates the downtrend read
FOMC Minutes at 18:00 UTC and today's 10-year auction could materially shift this read
11:05 UTC
Downtrend, oversold into 60.00 · RSI 24 · price 60.005
Silver has slid steadily since Wednesday's Asia session. The move unwound Tuesday's NY rally to 61.853 and broke the tuesday low at 60.267 as 10Y yields climbed back to 5.31%, leaving price on the 60.00 round number, below the 60.632 weekly open and both EMAs. Highs have stepped lower from Monday's 62.022 to Tuesday's 61.853, RSI(14) is oversold near 24 without bullish divergence, and the friday low at 59.676 (the two-month low left after the payrolls spike reversed) is the next structural floor.
Support: 60.00, 59.676
Resistance: 60.267, 60.632, 61.474
What it said to watch
H1 close below the friday low at 59.676 breaks the week's 59.68–62.02 range to the downside
Reclaim of the tuesday low at 60.267 would turn the break into a false break
Recovery to the weekly open at 60.632 puts price at the 38.2% of the tue-wed drop
Close above the wed high at 61.474 would negate Wednesday's lower-high sequence and test the lower highs line
FOMC Minutes at 18:00 UTC (~7h) could materially shift this read via yields and USD
Lower highs at 62.02 then 61.85; Tuesday low 60.267 undercut.
Friday's NFP spike to 62.07 reversed into a 59.68 friday low. Monday's rebound stalled at 62.02 and Tuesday's rejection formed a lower high at 61.85, with 10Y yields back at 5.31% and firmer crude capping the bounce. Wednesday's slide has run since the Asia session and through London, losing the weekly open at 60.632 and the tuesday low at 60.267, and now sits past the 78.6% retracement of the fri low–mon high move. Price is below EMA(20) and EMA(50), and RSI(14) is near 33.
Support: 60.00, 59.676
Resistance: 60.267, 60.632, 61.853
What it said to watch
H1 close back above the tuesday low at 60.267 would negate the fresh lower-low
Failure at the 60.00 round number exposes the friday low at 59.676
Reclaim of the weekly open at 60.632 would point to a failed breakdown
Break above the lower-high line from 62.02 would shift the structure back to range
FOMC minutes at 18:00 UTC (~8h) and the 10Y yield vs 5.35% could materially shift this read
Contracting range: lower highs from 62.07, price back at the week low.
The post-payrolls bounce off Friday's 59.68 two-month low peaked at 62.02 on Monday, and Tuesday's NY-session recovery stalled at a lower high of 61.85. Since Wednesday's Asia session, H1 has given that back as a crude rebound pushed the 10Y back to 5.31%. Price is now below EMA(20) near 60.82 and the week open at 60.63, sitting on Tuesday's 60.27 week low. It has slipped beneath the higher-lows line from Friday and is about 72% through the nfp bounce, with RSI(14) at 27 in oversold territory.
Support: 60.267, 60.00, 59.676
Resistance: 60.632, 60.82, 61.853
What it said to watch
H1 close below the 60.267 week low exposes the 60.00 psych level and the 59.676 2-month low
Reclaiming the week open at 60.632 and the ema20 near 60.82 would neutralise Wednesday's Asia-session slide
Lower highs line near 61.82 and the 61.853 lower high cap the range top; a close above it breaks the contraction
FOMC Minutes at 18:00 UTC: a hawkish read with yields retesting 5.35% could pressure the 60.00 area; a dovish read could lift price back into the range
Contracting range: lower highs from 62.02, higher lows from 59.68.
Silver has slid roughly 1.00 from Wednesday's 61.41 open through Asia into London, as a crude spike revived inflation fears. It has slipped back under the weekly open at 60.63 and the H1 ema20 near 60.90, with RSI(14) in the mid-30s. The week since Friday's NFP whipsaw is contracting, with lower highs at 62.02 (week high) and 61.85 and higher lows at the 59.68 two-mo low and the 60.27 tue low. Price is now testing that rising higher-lows line near the 60.38 wed low and sits beneath the 61.8% retrace of the fri-mon swing.
Support: 60.383, 60.267, 59.676
Resistance: 60.632, 60.90, 62.022
What it said to watch
H1 close below the 60.27 tue low breaks the higher-lows line and the contraction read
Failure at the 59.68 two-mo low confirms a lower-low below Friday's NFP extreme
Reclaim of the weekly open and ema20 (60.63–60.90) puts the range mid back in play
Close above the 62.02 week high breaks the lower-highs sequence
FOMC Minutes at 18:00 UTC (21:00 broker) could materially shift this read
Lower highs from 62.07 against higher lows from 59.68, a contracting range.
Friday's NFP spike to 62.07 reversed into a 59.68 two-month low, and since then H1 has compressed: Monday's London high at 62.02 and Tuesday's late-NY high at 61.853 form a lower-highs line, while the Tuesday low at 60.267 sits above Friday's low. A crude-driven inflation scare and firmer yields pulled the metal off 61.41 through the Asia session today, retracing nearly 90% of Tuesday's rally. Price now sits below the weekly open (60.632) and the ema20 (~60.93), with RSI(14) near 40, and is testing the higher-lows line around 60.44.
Support: 60.267, 60.00, 59.676
Resistance: 60.632, 60.93, 61.853
What it said to watch
H1 close below the tue low at 60.267 breaks the higher-lows line and exposes psych 60.00, then the 2-month low at 59.676
Reclaim of the weekly open and ema20 (60.63–60.93) restores the mid-range read
Break of the lower-highs line near 61.85 (tue high) opens the 62.00–62.07 range top
FOMC Minutes at 18:00 UTC today could materially shift this read; a yield spike would weigh on the higher-lows line
60.27–62.02 weekly range with lower highs since Monday; price in the lower half.
Silver has held a 60.27–62.02 range since Monday's gap-up open, with highs stepping lower from the 62.02 week high to 61.85 on Tuesday and 61.47 early today. The Asia session has unwound nearly all of Tuesday's 60.27–61.85 rally as yields and crude turned back up, leaving price below the weekly open at 60.63 and the EMA(20) near 60.98, with RSI(14) in the high 30s. The week low at 60.27 is the nearest floor, with the 60.00 round number and Friday's post-NFP two-month low at 59.68 beneath.
Support: 60.267, 60.00, 59.676
Resistance: 60.632, 60.98, 62.022
What it said to watch
H1 close below the 60.27 week low breaks the range floor and exposes the 60.00 round number and the 59.68 2-month low
Recovery back above the weekly open and the EMA(20) near 60.98 returns price to the range middle; the lower-highs line from 62.02 caps near 61.8
A close above the 62.02 week high breaks the lower-highs sequence
FOMC minutes at 18:00 UTC (~12h) could materially shift this read
Weekly range 60.27–62.02 with a lower high at 61.85; Asia pullback testing weekly open.
The week opened with a gap up to 60.632 from Friday's 60.352 close. The London-session push on Monday to the 62.022 week high faded, and after Tuesday's 60.267 week low the NY rebound stalled at 61.853, a lower high under the descending line. Wednesday's Asia session has unwound most of that leg back toward the weekly open, with price below the converged EMA(20)/EMA(50) near 61.05–61.10 and RSI(14) slipping to ~41 as the dollar retook 102.00 on firmer yields and oil.
Support: 60.632, 60.267, 60.00
Resistance: 61.05, 61.853, 62.022
What it said to watch
H1 close below the 60.632 weekly open exposes the 60.267 week low; failure there brings the 60.00 round number into play
Recovery above the ema20 near 61.05 and through the lower-highs line would put the 61.853 tuesday high back in focus
A close above the 62.022 week high breaks the lower-high sequence within the range
Price is already below the 61.8% retracement of Tuesday's 60.267–61.853 swing; the 78.6% near 60.61 sits just under the weekly open
FOMC Minutes at 18:00 UTC (~13h) could materially shift this read; Waller Thu 08:30 UTC follows
04:06 UTC
Range-bound, pullback below EMAs · RSI 44 · price 60.85
Contracting range: lower highs against higher lows since Friday's NFP reversal.
Silver has rotated inside a 60.27–62.07 band since Friday's NFP spike reversed from the 62.07 range top. Tuesday's rally ran from the 60.267 week low in early Europe to the 61.853 Tue high late in NY hours as the DXY eased. Wednesday's Asia session gave back about 60% of that leg as the dollar retook 102.00, pushing price below the ema20 and EMA50 (both near 61.08) onto the 61.8% retracement of Tuesday's rally at the 60.73 asia low, with RSI(14) at 43.
Support: 60.727, 60.632, 60.267
Resistance: 61.09, 61.853, 62.07
What it said to watch
H1 close below the 60.73 asia low and the 60.632 weekly open exposes the 60.267 week low and the higher lows trendline near 60.42
Recovery back above the ema20 near 61.09 restores the mid-range read, with the 61.853 tue high and the lower highs trendline next overhead
Close above the 62.07 range top breaks the lower highs sequence
FOMC Minutes Wed 18:00 UTC could materially shift this read
Friday's payrolls spike to 62.07 reversed into the 59.68 2-month low. This week has traded inside a 60.27–62.02 range, with a lower high at 61.85 in Tuesday's NY session after Monday's 62.02 week high, while Tuesday's London low at 60.27 held well above Friday's trough. Tuesday's softer-USD rally faded through the Asia session today. Price at 60.78 sits below the ema20 near 61.13 and beneath the 61.8% retracement of that rally, just above the weekly open, with RSI(14) at 41.
Support: 60.63, 60.27, 59.68
Resistance: 61.13, 61.85, 62.02
What it said to watch
H1 close below the 60.63 weekly open exposes the 60.27 week low
Break of the 60.27 week low ends the higher-lows read and reopens the 59.68 2-month low
Recovery above the ema20 at 61.13 and the 61.85 lower high would put the 62.02 week high, the range top, back in focus
FOMC Minutes at 18:00 UTC today could materially shift this read via yields and the USD
Contracting range 60.27–62.02, price in lower half below EMA20.
Friday's payrolls whipsaw (spike to 62.07, then a flush to 59.68 into the NY session) set the boundaries, and this week has compressed inside them: lower highs at the 62.022 week high Monday and the 61.853 Tue high, against higher lows at the 60.267 week low in early London Tuesday. Tuesday's rebound tracked the softer USD and easing yields, but the Asia session has slipped back below the EMA20 near 61.17 and is now testing the 61.8% fib of the Tuesday rally at 60.873, with RSI(14) easing toward 40.
Support: 60.873, 60.632, 60.267
Resistance: 61.17, 61.853, 62.022
What it said to watch
H1 close below the 61.8% fib at 60.873 exposes the weekly open at 60.632 and the higher-lows trendline near 60.40
Failure to hold 60.267 week low breaks the higher-lows sequence and reopens Friday's 59.68 flush low
Reclaim of the EMA20 at 61.17 followed by a close above the 61.853 Tue high breaks the lower-highs line toward the 62.022 week high
FOMC minutes Wed 18:00 UTC could materially shift this read; Waller and jobless claims follow Thursday
RSI(14) holding below 40 would mark the first momentum lower-low since Tuesday's 60.267 trough
Contracting range: lower highs from 62.07, higher lows from 59.68.
Friday's NFP spike to the 62.07 range top reversed to a 59.68 low during NY hours. Since then, Monday's push stalled at 62.02 and Tuesday's lower high formed at 61.85, while the week low at 60.27 and the 60.76 higher low have kept the range contracting. Tuesday's London-to-NY recovery tracked the softer USD and easing yields, but price has drifted back through the Asian session and now sits just under EMA(20) near 61.21. RSI(14) is flat around 52, and the 50% fib of Tuesday's leg at 61.06 sits just below.
Support: 61.06, 60.756, 60.267
Resistance: 61.21, 61.853, 62.07
What it said to watch
H1 close above the 61.85 lower high breaks the contraction and puts the 62.07 range top back in play
Failure to hold the 60.76 higher low exposes the 60.27 week low and the higher-lows trendline from Friday
A sustained hold below EMA(20) and the 50% fib at 61.06 would turn Tuesday's leg into a deeper retracement
FOMC minutes Wed 18:00 UTC (~17h) could materially shift this read, with Waller Thu 08:30 UTC next
00:05 UTC
Range-bound, compressing between lower highs and higher lows · RSI 55 · price 61.294
Friday's NFP spike to 62.07 reversed to 59.68 in NY hours. Since then H1 has carved a tightening range of lower highs: the week high at 62.022 in Monday's London session, then the Tuesday high at 61.853 late in NY. Tuesday's week low at 60.267 in early London was followed by a higher low at 60.756 in NY as the USD and yields eased. Price now sits near the 38.2% retracement of Tuesday's rally, just above a flat EMA(20) with RSI(14) near 55, with the 50% fib at 61.06 below.
Support: 61.06, 60.756, 60.267
Resistance: 61.853, 62.022
What it said to watch
FOMC Minutes Wed 18:00 UTC could materially shift this read and break the compression
H1 close above the tue high at 61.853 and then the 62.022 week high breaks the lower-high sequence
Loss of the 60.756 higher low reopens the 60.267 week low
Acceptance below the 50% fib at 61.06 puts Tuesday's rally structure in question