21:08 UTC
Downtrend, lower lows extending · RSI 32 · price 53.926
LH/LL chain since the late-August 71.17 peak; holding at the 53.00 swing low.
Silver has made lower highs and lower lows for two months since the 71.17 late-August peak. The 68.31 and 67.53 lower highs led into a break of the 59.70–62.00 range in early October, and the 55.40 broken low gave way on the Oct 22 slide as surging oil lifted inflation and Fed-hike pricing. Price sits well below a falling EMA(50), with the 53.00 swing low defended on consecutive sessions and RSI in the low 30s, near oversold but not yet there.
Support: 53.00, 50.00
Resistance: 55.40, 58.60, 62.00
What it said to watch
- Daily close below the 53.00 swing low extends the lower-low chain and brings the 50.00 psych level into view
- Reclaim of the 55.40 broken low would be the first structural recovery; the 23.6% retrace of the Aug–Oct decline sits near 57.30
- Daily close above the 58.60 lower high breaks the LH sequence; the 62.00 range top caps any deeper retracement
- FOMC decision Wed 18:00 UTC with presser at 18:30 could materially shift this read via December hike pricing
- Thu 12:30 UTC core PCE as a follow-through catalyst