Silver carved an 11-week low at 61.49 then mounted a sharp V-shaped recovery, reclaiming the 200-day SMA pivot near 67.25; a string of higher-lows since the low keeps the bounce intact. The rebound followed softer Core CPI/PPI prints and US-Iran de-escalation hopes. ATR stays elevated — this is headline-driven, two-way price action into Wednesday's FOMC dot plot.
Support: 67.25, 66.00, 61.50
Resistance: 69.00, 70.00
What it said to watch
Close above 69.00 opens the path toward 70.00
Failure to hold 67.25 / loss of 66.00 reopens the 61.50 ytd low
FOMC dot plot Wed 18:00 GMT is the dominant catalyst for this read
Silver collapsed from the mid-$78s to a $61.49 YTD low through the week on Fed-hike repricing, then exploded ~6% higher off oversold lows on US-Iran de-escalation hopes, reclaiming the $67.25 200-day pivot and now pressing $68. Price is carving higher-lows off the bottom while the steeper down-leg's momentum faded into the low — a bullish RSI divergence backdrop — but it sits below the EMA50 with $69 capping. The recovery is testing the lower edge of the prior $66-$69 zone.
Support: 67.25, 66.00, 61.50
Resistance: 69.00, 70.00
What it said to watch
Acceptance above 69.00 neckline cap opens 70.00
Loss of 67.25 200-day pivot reopens 66.00 then 61.50 ytd low
FOMC dot plot Jun 17 18:00 GMT is the dominant catalyst into this read