Four-month downtrend: silver slid from the early-quarter peak near 89.36 to a swing low at 54.77 two weeks ago, holding well below a declining EMA(50). The most recent five sessions show a modest bounce off that base into the high-$50s, but price sits back under EMA20 and the 60.00 psych level. Per the digest, the tape is two-way — safe-haven bid versus oil-driven Fed-hike repricing.
Support: 54.77, 50.00
Resistance: 60.00, 60.94
What it said to watch
Daily close below 54.77 swing low confirms a fresh lower-low, exposing 50.00 psych
Reclaim of 60.00 psych is needed to re-challenge the 60.94 swing high
FOMC Wed Jul 29 18:00 UTC is the dominant catalyst and could reshape this read
21:06 UTC
Downtrend, bounce off lows · RSI 47 · price 58.205
Multi-month downtrend intact: silver has shed roughly a third from the early-period peak near $89 and trades well below a falling EMA(50). Price bottomed at $54.77 mid-month, squeezed to a two-week high of $60.91 on Middle East safe-haven flows, then rejected 4.3% as oil-driven hawkish Fed repricing lifted yields. Now consolidating in the high-$50s just above EMA(20).
Support: 54.77, 50.00
Resistance: 60.91
What it said to watch
Daily close above 60.91 challenges the lower-high sequence
Break below 54.77 exposes 50.00
FOMC Wed Jul 29 18:00 UTC is the dominant catalyst and could materially shift this read