21:07 UTC
Downtrend, bounce stalling at EMA20 · RSI 37 · price 56.977
Lower highs since 67.53; post-breakdown bounce capped at fib 38.2%.
Silver has printed lower highs all window, from 67.53 through 62.07 and 60.72. The two-week 58.4–62 range then gave way on the hot CPI print, and the drop ran to the 55.385 weekly low. The yield-driven rebound stalled at the 57.96 bounce high, right at the fib 38.2% and EMA20 (~57.60). Price is now slipping back below that average, and EMA20 sits under EMA50 (~58.68). ATR(14) near 690 pips is still elevated after the breakdown bar but easing as the bounce compresses.
Support: 56.29, 55.385
Resistance: 57.96, 58.40, 60.00
What it said to watch
- Close above the 57.96 bounce high, and then the 58.4 breakdown level (fib 50%), would challenge the lower-highs read
- Failure to hold the 56.29 bounce low re-exposes the 55.385 weekly low
- Former supp at 60.0 aligns with the lower highs trendline; a reclaim there would neutralise the breakdown
- US housing starts/permits Tue and S&P Global PMIs Fri could materially shift this read via yields and USD