Every read JAFX AI made on the XAG/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:05 UTC
Downtrend, now basing in range · RSI 49 · price 57.89
Lower highs since May peak, $55-$62 base.
Silver has spent nearly three months unwinding the May spike to $89, carving lower highs into a $55-$62 base since mid-June. Price sits back above $58 after the Fed's fifth straight hold at 3.75% and a softer dollar, but remains below the D1 EMA(50), keeping the broader structure heavy. RSI(14) is flat near the midline, consistent with the sideways congestion of the last several weeks.
Support: 55.00
Resistance: 62.00
What it said to watch
- Daily close below 55.00 confirms a lower low and opens 50
- Close above 62.00 range top exposes 65
- Thu 12:30 UTC Core PCE/GDP could break the $55-$62 range
21:05 UTC
Downtrend YTD, now ranging · RSI 49 · price 57.89
Range $55-62 below EMA50.
Silver has spent the year unwinding the May spike near $89, falling roughly 35% into the early-June low at $55.32 and carving a lower-high structure below a falling EMor(50). The last six weeks have flattened into a $55-62 band, with price back above $57 as the dollar softened after the Fed's fifth straight hold at 3.75%. Bar closes remain pinned around the $58 pivot and just under EMA(20), leaving the range intact.
Support: 55.32, 50.00
Resistance: 60.00, 62.00
What it said to watch
- Daily close above 60.0 (round) opens a retest of the 62.0 range top
- Failure to hold 55.32 range floor confirms a lower-low and exposes 50.0 psych
- Thu Core PCE/GDP (12:30 UTC) could shift this range read