Lower highs intact; tight range 51.18–52.44 below 53.45.
The lower-high sequence from 58.03 to the 54.61 lower high to the 53.45 weekly high remains intact. The rebound off the 48.60 year low, driven by a softer USD after the midterms, met rejection at 53.45 and has since compressed into a 51.18–52.44 range near the 38.2% fib of that leg. Silver held the range through the hot NFP print, and ATR(14) of about 860 pips is contracting from the rally bar, a sign of compression ahead of the next directional move.
Support: 51.18, 50.45, 48.60
Resistance: 52.44, 53.45, 54.61
What it said to watch
An H4 close below the 51.18 range low exposes the 61.8% fib at 50.45, then the 48.60 year low
An H4 close above the 52.44 range high puts the 53.45 weekly high and the lower-highs trendline back in play
A break above the 54.61 lower high would end the lower-high sequence
US CPI Tue 13:30 UTC (core MoM f/c 0.2%) could materially shift this read; Fed speakers Mon–Tue precede it
Lower highs from 58.03; rebound capped at 53.45, coiling above 51.18.
Silver is still in a lower-high downtrend from the 58.03 peak. The post-election rebound off the 48.60 year low stalled at the 53.45 channel cap, under the lower-high line drawn from the 54.60 swing high. Price has since coiled between the 51.18 swing low and a 52.35 lower high, holding near the 38.2% retracement of the rebound even as the hot NFP lifted the USD, while EMA20 and EMA50 converge around 51.8–51.9 with no cross and ATR(14) eases to roughly 860 pips.
Support: 51.18, 50.45, 48.60
Resistance: 52.35, 53.45, 54.60
What it said to watch
H4 close below the 51.18 swing low exposes the 50% fib near 51.03 and the 61.8% fib at 50.45
Loss of 50.45 brings the 48.60 year low back into view
Sustained break above the 52.35 lower high and 53.45 channel cap would challenge the downtrend, with the 54.60 swing high next
US CPI Tue Nov 10 13:30 UTC (core MoM f/c 0.2%) could materially shift this read; Fed speakers Mon–Tue precede it