Silver has been in a multi-week downtrend since the early-May peak near $89, price holding below EMA(50) with a clear chain of lower highs. The last two weeks have coiled into a $55-60 consolidation inside the broader $55-62 range, with the metal pinned mid-range as the USD holds near YTD highs on resilient US data. Repeated rejections at the $60-62 zone keep the lower-high structure intact.
Support: 55.32
Resistance: 62.24
What it said to watch
Daily close below 55.32 opens the path toward the $50 psych level
Break above 62.24 range top exposes $65
FOMC decision Wed and Core PCE Thu could materially shift this read
21:05 UTC
Downtrend from May peak, now ranging · RSI 47 · price 58.305
Lower highs since May, consolidating 55-62.
Silver rolled over from the ~89 peak in early May and has spent the last several weeks basing in a broad 55-62 range, printing lower highs below the swing-trend filter (EMA50). The metal was knocked back to 57.50 from the 60+ area as US-Iran de-escalation unwound safe-haven flows and the USD firmed; price is now mid-range near 58.30, hugging the EMA20. Repeated rejections around 60-62 keep the multi-week lower-high structure intact.
Support: 55.00
Resistance: 62.00
What it said to watch
D1 close below 55.00 opens the path toward 50
Reclaim of 62.00 range top would break the lower-high structure
FOMC Wed + Core PCE Thu could materially shift this read