17:50 UTC
Downtrend from January 2026 blow-off peak, lower highs intact · RSI 38 · price 56.912
Post-parabolic reversion; lower highs at 89.36, 71.17 and 67.53, now pressing the June–July base lows.
Silver has been in reversion since the late-January 2026 blow-off top at 121.63, and the lower-high sequence from 89.36 to the aug high at 71.17 and the sep high at 67.53 defines a downtrend. This week's hot US CPI flush took price to a week low at 55.39, the lowest since July, and left it more than 4.00 below the W1 ema50 near 61.70. Price sits between the 61.8% (66.02) and 78.6% (50.90) retracements of the 2025–26 rally, with the july low at 54.76 the last base support above the 50.00 psych level.
Support: 54.756, 50.00
Resistance: 61.70, 67.529, 71.165
What it said to watch
- Weekly close below the july low at 54.76 confirms a lower low beneath the June–October base and exposes the 50.00 psych level and the 78.6% fib at 50.90
- Weekly close back above the ema50 near 61.70 would challenge the downtrend read; the sep high at 67.53 and aug high at 71.17 cap the lower-high sequence
- Failure to hold the 55.39 week low on a hawkish Fed headline extends the post-CPI leg
- Fed Chair Warsh (Fri 03:30 UTC) reacting to hot CPI/PPI could materially shift yields, USD and this read