Lower high at 53.17 under 53.70 week high; price back in lower half of 51.12–53.70 range.
Wednesday's Asia-session rebound off the 51.12 week low stalled at 53.17, a lower high under Tuesday's 53.70 peak, and has since unwound through London and NY hours as the post-CPI USD and yield bid persisted. Price has retraced roughly 74% of that Wednesday rebound fib and now sits below both the ema20 (52.20) and ema50 (52.30), with the ema20 turning lower and RSI(14) sliding from 66 to 33.7 without reaching oversold. ATR is compressing from 377 to 279 pips into the 51.45 weekly open, which is the nearest support ahead of the week low.
Support: 51.452, 51.116
Resistance: 52.195, 52.298, 53.173
What it said to watch
H1 close below 51.116 week low confirms a lower low and breaks the range floor
Hourly closes back above the ema20 at 52.20 and ema50 at 52.30 would neutralise the fade from the wed high
A move through 53.17 breaks the lower highs line; 53.70 remains the week high
US Initial Jobless Claims Thu 13:30 GMT and the Fed-speaker slate could materially shift this read; Core PPI Fri 13:30 GMT is the bigger catalyst
22:05 UTC
Downtrend resuming, lower high in place · RSI 34 · price 51.657
Lower high at 53.17 under 53.70 week high, range 51.12-53.70.
Wednesday's Asia-session rebound from Tuesday's CPI-driven week low at 51.116 stalled at 53.173 (wed high) near the $53.00 pivot, setting a lower high under Tuesday's 53.701 peak. The fade then ran through London and NY on a firm USD, retracing roughly 74% of the wed rebound fib and pulling price back below both ema20 (52.195) and ema50 (52.298), with ema20 now crossed under ema50. RSI(14) has slid from 66 to 33.7 without reaching oversold, while ATR is compressing from 377 to 279 pips.
Support: 51.452, 51.116
Resistance: 52.195, 52.298, 53.173
What it said to watch
H1 close below the 51.452 weekly open exposes the 51.116 week low
Failure to hold 51.116 confirms a lower low beneath the lower highs line
H1 close back above ema20 52.195 and ema50 52.298 would negate the fade read
A move through the 53.173 wed high breaks the lower highs sequence
Thu 13:30 GMT Jobless Claims plus a heavy Fed-speaker slate could shift this read, ahead of Fri Core PPI
Lower high at 53.173 under the 53.701 week high, inside a 51.12-53.70 range.
Wednesday's Asia-London rebound off 51.43 stalled at the 53.173 wed high, a lower high under Tuesday's 53.701 peak. It then unwound through the NY session as USD extended its post-CPI gains, leaving price at 51.686, below the ema20 (52.252) and EMA(50) (52.324). Most of the wed rebound is now given back. RSI(14) has slid from 66 to 34.5 without reaching oversold, and price sits just above the weekly open at 51.452, with the tuesday low at 51.116 the week's floor. The prior close at 51.959 is the first overhead marker.
Support: 51.452, 51.116
Resistance: 51.959, 52.252, 53.173
What it said to watch
H1 close below the weekly open at 51.452 exposes the tuesday low at 51.116 and the range floor
Recovery back above the prior close at 51.959 and the ema20 near 52.25 would ease the lower-highs read
Rejection below the wed high at 53.173 keeps the lower highs from the 53.701 week high intact
Initial Jobless Claims and the Fed-speaker slate from Thu 13:30 UTC could materially shift this read
Friday's US Core PPI is the week's main catalyst for a break of the 51.12-53.70 range
51.12–53.70 weekly range; lower high at 53.173, price testing day low.
Silver has held a 51.12–53.70 range this week. Tuesday's hot US CPI drove the slide to the 51.116 week low, and Wednesday's Asia-session rebound stalled with a rejection at 53.173, a lower high below the 53.701 week high, before London and NY hours unwound most of it, more than 61.8% of the Wed rally fib. Price at 51.77 is pressing the day low near 51.72 and sits below both EMAs, with EMA(20) at 52.309 now crossed under EMA(50) at 52.349 and RSI(14) down to 36.6 from 66 earlier in the day, short of oversold; the weekly open at 51.452 is the next reference beneath.
Support: 51.721, 51.452, 51.116
Resistance: 52.309, 53.173, 53.701
What it said to watch
H1 close below the 51.721 day low exposes the 51.452 weekly open, then the 51.116 week low
Recovery back above ema20 at 52.309 would neutralise the post-ema cross weakness
H1 close above the lower-high line from 53.701 through the 53.173 Wed high reopens the 53.701 week high
ATR(14) easing to 301.6 from 380 points to compressing ranges into Thu's 13:30 UTC jobless claims and Fed speakers
Fri 13:30 UTC US core PPI is the main catalyst that could break the weekly range
Lower high at 53.17 under Tuesday's 53.70 top; price back below both EMAs.
Silver ran from the 51.45 weekly open to a 53.70 week high early Tuesday. Hot US CPI then drove it to a 51.12 week low. Wednesday's Asia-to-London open rebound stalled at 53.17, a lower high, and London and NY hours have since faded it below EMA(20) at 52.36. EMA(20) has now slipped under EMA(50), and price sits just below the 61.8% retracement of that rebound near 51.90. RSI(14) has rolled from 66 to 37.5, and ATR is easing from 380 to 311 pips as the selling extends.
Support: 51.45, 51.12
Resistance: 52.36, 53.17, 53.70
What it said to watch
H1 close below the 51.45 weekly open exposes the 51.12 week low and the 51.25–51.40 dip-buy area
Reclaim of EMA(20) near 52.36 would neutralise the fade off the 53.17 wed high
A break of the lower highs line from the 53.70 week high would undo the lower-high read
US Initial Jobless Claims Thu 13:30 GMT and Thursday's Fed speakers could shift this read
US Core PPI Fri 13:30 GMT is the week's main catalyst for a break of the 51.12–53.70 range
Lower high at 53.17 under 53.70 week high; rebound mostly retraced.
Wednesday's Asia-session rebound from the post-CPI week low at 51.12 stalled at 53.17, a lower high under Tuesday's 53.70 week high, and London and NY hours have since handed back most of it as the USD holds yearly highs on the hot CPI print. Price now trades below EMA(20) at 52.41 and EMA(50) at 52.39, with EMA(20) rolling over toward EMA(50) and RSI(14) slipping from 66 to 39.7. The pullback is testing the 61.8% fib of that rebound near 51.90, inside a broader 51.12–53.70 weekly range.
Support: 51.902, 51.452, 51.116
Resistance: 52.412, 53.173, 53.701
What it said to watch
H1 close below the 61.8% fib near 51.90 exposes the week open at 51.45 and the week low at 51.12
Reclaiming EMA(20) at 52.41 would restore the mid-range read
A close above the 53.17 lower high breaks the lower-high trendline and reopens the 53.70 week high
US jobless claims and Fed speakers Thu from 13:30 GMT, then core PPI Fri 13:30 GMT, could materially shift this read
Lower high at 53.17 under 53.70 week high; Wednesday's rally mostly retraced.
Wednesday's rally ran from the 51.43 Asian low through Asia and into London open. It stalled at the 53.17 Wednesday high, a lower high under Tuesday's 53.70 week high, and London and NY hours have since given back more than 61.8% of the move, taking price below EMA(20) and EMA(50) at 52.41–52.46. The fade comes with the USD still bid after Tuesday's hot CPI beat, which drove the slide to the 51.12 CPI low. RSI(14) has rolled from 66 to 40.7 with ATR steady near 330 pips, and price is now sitting on last week's 51.96 prior close, mid-way through the 51.12–53.70 week range.
Support: 51.959, 51.43, 51.116
Resistance: 52.408, 53.173, 53.701
What it said to watch
An H1 close below the 51.96 prior close exposes the 51.43 Asian low, then the 51.12 CPI low at the range floor
A recovery back above the ema50/ema20 band at 52.41–52.46 would neutralise the fade, with the 53.17 Wednesday high still the lower-high cap
A close through the lower-highs trendline and the 53.70 week high would break the weekly range
Thu 13:30 UTC jobless claims (f/c 195K), the Fedspeak slate and Fri 13:30 UTC core PPI could materially shift this read
16:04 UTC
Range-bound, momentum fading from mid-week high · RSI 45 · price 52.324
51.12–53.70 weekly range; lower high at 53.17 under the 53.70 week high.
Silver recovered all of Tuesday's hot-CPI drop to the 51.12 week low during Wednesday's Asia session, but the rally stalled at the 53.17 Wednesday high, a lower high under Tuesday's 53.70 week high. Supply has since pushed price back through London into the NY open. The session low at 52.14 sits on the 50% retracement of the Wednesday leg. Price is now below EMA(20) at 52.50, which has turned lower, and below EMA(50) at 52.42, with RSI(14) down from 66 to 45.
Support: 52.14, 51.45, 51.12
Resistance: 52.50, 53.17, 53.70
What it said to watch
H1 close below the 52.14 session low and 50% fib exposes the 51.45 weekly open, then the 51.12 week low
Reclaim of ema20 at 52.50 and a close above the 53.17 Wednesday high breaks the lower-high trendline
Close above the 53.70 week high would end the range read
Initial Jobless Claims Thu 13:30 UTC (f/c 195K) and the Fed-speaker slate could materially shift this read
Fri 13:30 UTC core PPI YoY (f/c 5%) is the week's main catalyst for the range
15:04 UTC
Two-way range, pulling back from a lower high · RSI 45 · price 52.18
51.12–53.70 week range; lower high at 53.17 Wednesday.
Silver has rotated inside a 51.12–53.70 range this week. Monday's Asia-session surge from the 51.45 weekly open set the 53.70 week high early Tuesday. The hot US CPI then drove a slide to the 51.12 week low into NY hours, and Wednesday's Asia and early-London rebound stalled at the 53.17 Wednesday high, a lower high. Through London and into the NY open price has given back roughly half of that rally to 52.18, near the 50% fib. It now sits below both EMA(20) at 52.53 and EMA(50) at 52.43, with RSI(14) down to 44.7 from 66 and the EMA(20) starting to roll over.
Support: 52.06, 51.45, 51.116
Resistance: 52.429, 53.173, 53.701
What it said to watch
An H1 close below the 52.06 swing low and the 50% fib exposes the 51.90 61.8% level and the 51.45 weekly open.
A recovery back above the ema50 at 52.43 and the EMA(20) at 52.53 would restore the Wednesday rebound structure, with the 53.17 Wednesday high as the lower-high cap.
A close above the 53.70 week high would break the lower-highs line and the range top; failure to hold the 51.12 week low would confirm a range break lower.
Thursday's 13:30 GMT jobless claims (f/c 195K) and the Fed speaker slate, then Friday's core PPI, could materially shift this read.
14:05 UTC
Range-bound, recovery fading from a lower high · RSI 56 · price 52.587
Lower highs at 53.701 then 53.173 inside a 51.12–53.70 weekly range.
The hot US CPI beat drove Tuesday's NY-session slide to the 51.116 week low. Dip-buyers then ran a recovery through Wednesday's Asia session to 53.173 even as yields rose, but that wed high sits as a second, lower high under Tuesday's 53.701 week high. Price has slipped back below the 53.00 round number into the London-NY transition and is retesting the rising ema20 at 52.555, with the ema50 at 52.437 just below. RSI(14) has cooled from 66 to 55.5 and ATR is compressing from 411 to 318 pips.
Support: 52.555, 52.437, 52.06
Resistance: 53.00, 53.173, 53.701
What it said to watch
H1 close below the ema50 at 52.437 would expose the 50% recovery fib near 52.15 and the monday low at 52.06
Reclaiming the 53.00 round number and closing above the 53.173 wed high would break the lower highs sequence and bring the 53.701 week high back into view
Thu 13:30 GMT jobless claims (f/c 195K) and the Fed speaker slate, then Fri core PPI, could materially shift this read
V-shaped recovery from CPI low, lower high under week high.
Silver has chopped inside a 51.12–53.70 range this week. Tuesday's hotter US CPI drove a NY-session slide to the week low, but buyers stepped in during today's Asia session and the rebound reclaimed both EMAs, with EMA(20) crossing above EMA(50). The recovery stalled at the 53.17 wed high around the London open, a lower high beneath the week high, and price is easing toward the 23.6% level of the rebound fib (about 52.69) with RSI(14) cooling from 66 to 58.8.
Support: 52.538, 52.425, 51.116
Resistance: 53.00, 53.173, 53.701
What it said to watch
An hourly close back below the ema20 at 52.54 and the ema50 at 52.42 would undercut the rebound and expose the 50% rebound fib near 52.15
Failure to regain the 53.00 round number keeps the pullback since the London open intact
A close above the 53.17 wed high and the lower highs line opens a test of the 53.70 week high
A break of the 51.12 week low would turn the range into a lower-low
Thu 13:30 GMT US jobless claims and heavy Fed-speak, then Fri core PPI, could materially shift this read
51.12–53.70 range with lower highs from Tuesday's top.
Silver has chopped in a 51.12–53.70 range since Monday's open. The 53.701 week high was rejected early Tuesday, and the hot US CPI beat then drove a slide to the 51.116 week low during Tuesday's NY session. Dip-buying in Wednesday's Asia session lifted price back above ema20 (52.507) and ema50 (52.409), but the rebound stalled at 53.173 around London open, a second of the lower highs, and RSI(14) has cooled from 66 to 56.
Support: 52.507, 52.409, 51.116
Resistance: 53.173, 53.701
What it said to watch
Hourly close above the 53.173 wed high breaks the lower highs sequence and puts the 53.701 week high back in play
Failure to hold ema20 at 52.507 and ema50 at 52.409 exposes the 50% of the rebound fib near 52.145
A break of the 51.116 week low would end the range read
Thu 13:30 GMT US jobless claims and heavy Fedspeak (Hammack through Williams) could materially shift this read
Range of roughly 51.12–53.70 this week; lower highs off the Tuesday top.
Silver opened the week at 51.45 and squeezed to the 53.70 week high early Tuesday. Supply there turned it lower, and the hot US CPI took it down to the 51.12 week low during NY hours. Wednesday's Asia session recovered most of that drop as dip-buyers stepped in despite firmer yields. The bounce stalled at today's high of 53.17, near the 78.6% retracement of the CPI drop, and London has drifted sideways just under 53.00. Price holds above both EMAs, with EMA(20) at 52.49 turning up through EMA(50). RSI(14) is easing to 62 from 66, and ATR is compressing from its post-CPI peak.
Support: 52.487, 52.06, 51.116
Resistance: 53.173, 53.701
What it said to watch
H1 close above today high 53.17 and the lower-highs line puts the 53.70 week high back in play
Failure to hold ema20 at 52.49 exposes the Monday low at 52.06
A break below the 51.12 week low would end the range read
Thu 13:30 GMT jobless claims and Fed-speak, then Fri core PPI, could materially shift this read
Week range 51.12–53.70; rising lows since Wednesday Asia.
Silver has retraced most of Tuesday's CPI slide from the 53.45 cpi-day high to the 51.12 week low. The rebound was built on rising lows through Wednesday's Asia session and is holding the 53.00 round number into London, despite firm US yields. Price sits above EMA(20) at 52.442 and EMA(50) at 52.376, with EMA(20) just crossing back above EMA(50). RSI(14) has recovered to 65.5 from sub-30 on Tuesday, while ATR(14) has eased to 327 pips; the 53.45 and 53.70 week high lower highs still cap the range.
Support: 53.00, 52.816, 52.442
Resistance: 53.45, 53.701
What it said to watch
H1 close above the 53.45 cpi-day high breaks the lower-highs sequence and exposes the 53.70 week high
Failure to hold today's low at 52.82 breaks the rising lows and returns focus to ema20 near 52.44
Loss of the 53.00 round number after the CPI drop fib retrace stalls keeps the week range read intact
US Initial Jobless Claims Thu 13:30 UTC and Fedspeak, then Core PPI Fri 13:30 UTC, could materially shift this read
Silver has round-tripped inside a 51.12–53.70 range this week. The hot US CPI print drove Tuesday's NY-hours flush to the week low, and today's Asia session rebound has retraced more than 61.8% of that drop back to the 53.00 pivot, with price above EMA(20) at 52.38 and EMA(20) just crossing back over EMA(50) as RSI(14) lifted from 28 to 66, short of overbought. The 53.17 session high sits near the 78.6% fib and on a lower-highs line from the 53.70 week high, and that confluence has capped the bounce so far.
Support: 52.382, 51.452, 51.116
Resistance: 53.173, 53.701
What it said to watch
Hourly close above the 53.17 session high and the lower-highs line opens the 53.70 week high
Slip back below EMA(20) at 52.38 would leave the rebound as a lower high inside the range
Loss of the 51.45 weekly open and the 51.12 week low would extend Tuesday's CPI flush
Thu 13:30 GMT jobless claims and Fed-speak, then Fri core PPI, could materially shift this read
Silver has retraced about three-quarters of Tuesday's CPI drop, the hot-print flush during NY hours from the 53.70 week high to the 51.12 CPI low. The dip below the weekly open was reclaimed, and Wednesday's Asia session bid lifted price back above both EMAs, with RSI(14) recovering from 28 to 66. Price is pressing the 53.00 psych pivot just under the 53.17 session high, while the 53.53 Mon high and the week high form a line of lower highs at the top of the 51–53.70 range. EMA(20) at 52.32 is turning higher toward EMA(50).
Support: 53.00, 52.315, 51.116
Resistance: 53.173, 53.525, 53.701
What it said to watch
An H1 close above the 53.17 session high puts the 53.53 Mon high and 53.70 week high back in play, and acceptance above them breaks the lower highs line
A return below 53.00 psych toward the ema20 near 52.32 marks the bounce as corrective within the range
Loss of Wednesday's higher lows line exposes the 51.12 CPI low
US Initial Jobless Claims and Fed speakers on Thu, then PPI on Fri at 13:30 GMT, could materially shift this read
V-recovery from CPI low into lower-highs resistance near 53.00.
Silver opened the week at 51.452, ran to a 53.701 week high by late Monday, then the hot US CPI beat flushed it to a 51.116 cpi low. That low sat just under last week's 51.178 trough before Wednesday's Asia session bid lifted price back above EMA(20) and EMA(50) to 53.035, retracing roughly 74% of the CPI drop as RSI(14) climbed from 28 to 66.1. The asia high at 53.089 sits just under the 53.00 pivot, with the lower high at 53.45 and the week high above still defining the descending cap.
Support: 52.50, 52.293, 51.116
Resistance: 53.089, 53.45, 53.701
What it said to watch
H1 close above the 53.45 lower high breaks the lower-highs line and puts the 53.701 week high back in play
Rejection at the 53.089 asia high with a slide back under the 52.50 asia shelf returns price toward the ema50 at 52.293
EMA(20) at 52.238 is still under EMA(50) at 52.293; an ema cross would confirm the rebound's momentum shift
A break below the 51.116 cpi low would void the false break read
US Jobless Claims and the Fed-speak slate Thu 13:30 GMT, then PPI Fri 13:30 GMT, could materially shift this read
Lower highs 53.70/53.45 intact; rebound reclaimed 61.8% of CPI drop.
Silver has ranged between 51.12 and 53.70 since Monday's open. The hot US CPI beat flushed price to the week low in NY hours Tuesday, and Asia-session dip-buying today has retraced about 70% of that drop to a 53.09 session high, above the 61.8% fib of the CPI drop and along a steep rebound trendline. Price sits above both EMA(20) and EMA(50), with EMA(20) turning up but still under EMA(50). RSI(14) has climbed from 28 to 65.7 without reaching overbought, while the lower highs at 53.70 (week high) and 53.45 still cap the structure.
Support: 52.714, 52.263, 52.156
Resistance: 53.089, 53.45, 53.701
What it said to watch
H1 close above the 53.09 session high puts the 53.45 lower high and 53.70 week high back in play
Failure to hold the 52.71 fib 61.8 and a break of the rebound trendline would expose the ema50/ema20 band at 52.26–52.16
US Initial Jobless Claims and the Fedspeak slate Thu 13:30 GMT could materially shift this read
US PPI Fri 13:30 GMT is the high-impact test for the 51.12–53.70 range
51.12–53.70 weekly range; price back above both EMAs mid-range.
Monday's Asia-session surge from the 51.45 weekly open met rejection at the 53.70 week high early Tuesday. Silver held a 52.06–53.70 band until the hot US CPI beat flushed it to the 51.12 week low in NY hours, with RSI(14) dipping to 28. Wednesday's Asia bid has retraced about 60% of the CPI drop and lifted price back above the ema20 (52.07) and ema50 (52.23), with RSI(14) at 58.6, though ema20 still sits below ema50 and the 52.55 asia high is capping for now, below the 53.00 pivot.
Support: 52.234, 52.068, 51.116
Resistance: 52.552, 53.00, 53.701
What it said to watch
H1 close back below the ema50 at 52.23 and the ema20 near 52.07 would put the 51.12 week low back in focus
Acceptance above the 53.00 pivot would expose the 53.70 week high and test the range top
US Initial Jobless Claims and the Fed-speaker slate Thu 13:30 UTC could materially shift this read
US PPI Fri 13:30 UTC is the high-impact test for the 51.12–53.70 range
04:03 UTC
Downleg from week high, rebounding off CPI low · RSI 57 · price 52.46
Lower high at 53.70, base at 51.12, retracing into 50% fib.
Tuesday's Asia-session push to the 53.70 week high met rejection. Waller's bigger-hike warning and the hot October CPI print then drove a slide into NY hours to the 51.12 cpi low, with RSI(14) bottoming near 28. Today's Asia session broke out of the 51.12–51.62 base, lifting price back above the ema20 (52.02) and ema50 (52.22) to the 52.49 asia high, which sits at the 50% fib of Tuesday's drop and on the lower-highs line from 53.70, while ATR(14) stays elevated near 363 pips.
Support: 52.222, 52.02, 51.116
Resistance: 52.486, 53.00, 53.701
What it said to watch
H1 close above the 52.49 asia high and the lower-highs line opens the 53.00 round number, with the 53.70 week high beyond
Stalling at the 50% fib and slipping back below the ema50 and ema20 would re-expose the 51.12 cpi low
Failure to hold the 51.12 cpi low confirms a fresh lower-low
Thu jobless claims and the Fed speaker cluster, then Fri PPI, could materially shift this read
03:02 UTC
Downleg from week high, Asia rebound underway · RSI 56 · price 52.391
53.70–51.12 swing range; price at 50% retrace of CPI leg.
The Tuesday Asia-session push to a 53.701 week high, briefly above last week's 53.45 top, was a false break. Waller's comments and the hot US CPI print then drove silver to a 51.116 cpi low in NY hours. Today's Asia-session jump to a 52.486 asia high has lifted price back above both the ema20 (51.978) and the ema50 (52.214). RSI(14) has recovered to 55.8 from 28.1, and price is stalling near the 50% fib of the CPI leg, with the fib 61.8 at 52.714 next overhead.
Support: 52.214, 51.978, 51.116
Resistance: 52.486, 52.714, 53.701
What it said to watch
H1 close back below the ema50 at 52.214, then the ema20 at 51.978, would define the Asia bounce as a retracement inside the downleg
EMA(20) still sits below EMA(50); a cross above would mark a shift in H1 structure
Acceptance above the asia high 52.486 and the fib 61.8 at 52.714 reopens the 53.00–53.70 week high zone
Failure to hold the 51.116 cpi low confirms a lower-low below last week's 51.18 base
Thu jobless claims (f/c 195K) and Fed speakers, then Fri PPI (m/m f/c 0.4%), could materially shift this read
Tuesday lower-high sell-off, Asia rebound into the 38-50% fib zone.
Tuesday's sell-off from the 53.70 week high to the 51.12 week low ran through London and NY as Waller's bigger-hike warning and the hot October CPI lifted the USD, with RSI(14) dipping to the 28-30 zone. An Asia session spike to 52.49 has lifted price back above the ema20 (51.94) and just over the ema50 (52.21), retracing roughly 38-50% of that leg, while EMA(20) still slopes lower beneath a flattening EMA(50). RSI has recovered to 53.8 and ATR sits at 380 pips; the spike high and the 52.71 61.8% fib mark where this rebound gets tested.
Support: 52.207, 51.937, 51.116
Resistance: 52.486, 53.00, 53.701
What it said to watch
Hourly acceptance above the 52.49 spike high exposes the 52.71 61.8% fib and the 53.00 round number
A close back below the ema50 at 52.21, then the ema20 at 51.94, returns the read to Tuesday's downtrend toward the 51.12 week low
The 53.70 week high caps the week's range; only a break there undoes the full Tuesday sell-off
Thu jobless claims (13:30 GMT) and the Fed speaker slate, then Fri PPI, could materially shift this read
Lower highs from 53.70, tight consolidation above the CPI low.
Tuesday's Asia-session push to the 53.70 week high was rejected. A lower-highs sequence formed through London and Waller's bigger-hike warning, then the hot October CPI (0.4% m/m vs 0.3%) knocked silver to a 51.116 CPI low during NY hours. Price now sits in a tight 51.20–51.60 consolidation below a falling EMA(20) at 51.904 and EMA(50) at 52.206, just above the weekly open at 51.452 and the Friday low at 51.178. RSI(14) dipped below 30 after the data and has recovered to 36.2, while ATR(14) compresses from 425 to 329.5 pips.
Support: 51.452, 51.178, 51.116
Resistance: 51.904, 52.206, 53.701
What it said to watch
Hourly close above the ema20 at 51.904 would ease the downtrend read; the ema50 at 52.206 sits near the 38.2% fib of the CPI leg around 52.10
Failure to hold the cpi low at 51.116 and the friday low at 51.178 confirms a lower-low and exposes the 48.96 area
Loss of the weekly open at 51.452 puts the consolidation floor back in play
Lower-highs trendline from the 53.70 week high remains the structural cap on any rebound
Thu jobless claims and the Fed speaker cluster, then Fri PPI (f/c 0.4% m/m), could materially shift this read
00:02 UTC
Downtrend after failed rally, basing near weekly open · RSI 38 · price 51.534
Mon rally rejected at 53.70; CPI impulse to 51.12, now tight base.
Monday's Asia-session surge from the 51.45 weekly open stalled at the 53.70 week high early Tuesday. Waller's hike warning in London, then the hot US CPI beat into the NY open, drove a slide to the 51.12 CPI low that erased the week's gains. Price is now basing just above the weekly open, below the falling EMA(20) at 51.95 and EMA(50) at 52.24. RSI(14) has recovered to 37.5 after dipping below 30, and ATR has compressed from 425 to 340 pips.
Support: 51.452, 51.116
Resistance: 51.947, 52.235, 53.701
What it said to watch
An H1 close above the ema20 at 51.95, roughly last week's close, would mark the first reclaim since the CPI drop; the 38.2% fib of the CPI leg sits near 52.10
Failure to hold the weekly open at 51.45 exposes the CPI low at 51.12 and last week's 51.18 base
Reclaiming the ema50 at 52.24 shifts focus to the lower highs falling from the 53.70 week high
Thu Initial Jobless Claims (f/c 195K) and the Fed speaker slate on December hike size could materially shift this read