Silver has traced a multi-month rounded top from the late-February peak near 96, and the last three weeks have resolved into a clean string of lower highs and lower lows. The hawkish Fed dot-plot shift and a firmer dollar this week reinforced the leg down, with the $70 retest sold and the $65.77 pivot ceding as price closed at 64.80. Below the EMA(50), the recent 61.49 swing low is the reference level for the prevailing decline.
Support: 63.30, 61.50
Resistance: 66.81
What it said to watch
Daily close below 63.30 swing low exposes the 61.50 downside target
Reclaim of the 66.81 prior high would challenge the lower-high sequence
S&P Global PMIs (Tue Jun 23) could materially shift this read via USD
21:04 UTC
Downtrend, accelerating · RSI 34 · price 64.803
Lower highs, lower lows since early May.
Silver has been in a clear multi-week downtrend off the early-May 89 area, with price now well below both EMA20 and EMA50 after a hawkish-Fed dot-plot repricing and firmer dollar dragged the metal from $70+ to ~$65 this week. The 65.77 pivot has given way and last session closed near 64.80, having tagged the 63.29 swing low, leaving 63.32 and the cited 61.50 magnet as the next reference points. RSI in the low-30s confirms downside momentum without yet reaching washed-out extremes.
Support: 63.32, 61.50
Resistance: 65.77, 66.81
What it said to watch
A sustained break below 63.32 opens the path to the 61.50 magnet
Recovery above the 65.77 pivot would relieve immediate pressure toward 66.81
S&P Global PMIs (Tue Jun 23, 13:45 UTC) could materially shift this read