Silver has been in a clear downtrend since the March peak near 96.40, carving lower highs and lower lows into the 61.50 YTD low this week. Price has since squeezed ~10% off that low and is now testing the 200-day pivot around 67.25, with RSI lifting out of oversold but EMA20 and EMA50 still capping overhead. The rebound traces to softer core CPI/PPI prints and Iran de-escalation hopes, leaving a headline-driven recovery against a broader bearish structure.
Support: 67.25, 65.32, 61.50
Resistance: 69.00, 72.80
What it said to watch
Daily close above 69.00 psych opens the path back toward 72.80 swing high
Loss of 67.25 200-day pivot puts 65.32 swing low and the 61.50 ytd low back in play
FOMC dot plot Jun 17 18:00 GMT is the dominant catalyst and could materially shift this read
Multi-month downtrend off the late-February $96 peak — an unbroken chain of lower highs and lower lows that bottomed at the $61.50 YTD low this week. The last two sessions rebounded sharply off that low, helped by Iran de-escalation hopes and softer core CPI/PPI prints, reclaiming the 200-day SMA near 67.25 and pressing the $69 area. Price still sits below EMA20 and EMA50, so the broader structure stays bearish despite the bounce.
Support: 67.25, 66.00, 61.50
Resistance: 69.00, 73.00
What it said to watch
Daily close above 69.00 opens room toward the 73.00 prior swing
Failure to hold the 200-day sma / 66.00 support reopens the 61.50 ytd low
FOMC dot plot Jun 17 18:00 GMT is the dominant catalyst and could reset this read