22:06 UTC
Downtrend, bounce stalling below ema20 · RSI 39 · price 51.657
Lower highs from August peak; base forming near 48.60.
Silver has printed lower highs since the 71.17 late-August peak. It broke the 55.39 prior low in late October, and price now sits below a falling EMA(20) at 53.77 and EMA(50) at 57.52. The early-November swing low at 48.60 came with RSI holding above its late-October 23.7 trough, and the rebound stalled at the 53.70 swing high near the 23.6% retracement of the Aug–Nov decline. Tuesday's hot US CPI knocked price to the 51.12 cpi low before Wednesday's recovery, leaving this week boxed in 51.12–53.70.
Support: 51.12, 48.60
Resistance: 53.70, 55.39, 57.517
What it said to watch
- Daily close above the 53.70 swing high and ema20 breaks the lower-highs line and opens the 55.39 prior low
- Failure to hold the 51.12 cpi low exposes the 48.60 swing low; a close below it extends the lower-low chain
- Recovery to the ema50 near 57.52 needed to challenge the downtrend read
- Friday's US Core PPI YoY (f/c 5%) and Thursday's Fed speaker slate could materially shift this read