21:04 UTC
Downtrend, accelerating then oversold · RSI 29 · price 59.024
Lower highs, lower lows since late Feb peak.
Silver has been in a sustained downtrend since the late-Feb 96.37 peak, with a chain of lower highs and lower lows, and the decline accelerated this week as a 1yr-high USD and Fed-hike repricing sheared roughly 12-18% off price. The break of the 60.00 level confirmed the breakdown and price printed a fresh 7-month low at 55.61 before a modest bounce to 59.02. RSI near 28 marks genuine D1 oversold, consistent with the corrective bounce, but price remains well below EMA20 and EMA50.
Support: 55.609, 55.00
Resistance: 60.00
What it said to watch
- A daily close back above the broken 60.00 level would challenge the breakdown read
- Failure to hold 55.61 confirms continuation toward 55.00
- Wed ADP and ISM Prices Paid cluster could materially shift the USD-driven move