19:08 UTC
Corrective downtrend from January blow-off peak · RSI 46 · price 60.665
Lower highs since 121.63 ATH; base holding 54.76–60 since June.
Silver has been in a corrective downtrend since the late-January blow-off at 121.63, with lower highs at 96.37, the 89.36 may high and the 71.17 aug high. Price at 60.67 is below the 61.8% retracement of the 2025 rally and back under the W1 EMA(50) near 61.9, while the 59.68 swing low and 54.76 july low frame a base that has held since June; RSI in the mid-40s is not at an extreme. Multi-decade-high US yields and hawkish Fed pricing remain the macro headwind for the non-yielding metal heading into Wednesday's CPI.
Support: 59.676, 54.756, 50.00
Resistance: 61.88, 71.165, 89.361
What it said to watch
- Weekly close back above the w1 ema50 near 61.9 and the lower highs trendline (~63.9) would weaken the downtrend read
- A close below the 59.68 swing low exposes the 54.76 july low. Losing that leaves the 50.00 psych level and the Oct–Nov 2025 base in view
- A weekly close above the 71.17 aug high breaks the lower-high sequence, with the 89.36 may high the next multi-quarter cap
- US CPI Wed Oct 14 12:30 UTC (f/c 3.6% y/y) could materially shift this read through yields and the USD