21:04 UTC
Downtrend, deeply extended · RSI 32 · price 58.367
Lower highs / lower lows, oversold bounce.
Silver remains in a multi-week downtrend that accelerated through mid-June, slicing below the $60 handle for the first time since the December rally on hawkish Fed repricing and a firmer dollar. Price has shed roughly 22% YTD and trades well below a falling EMA(50), with RSI in oversold territory after the run into the $55.60 low. The last three sessions have stalled near 56.60–59.00, a corrective pause rather than a structural turn.
Support: 56.60, 54.46
Resistance: 59.57, 60.00
What it said to watch
- Sustained break of 56.60 opens 54.46 then the 50.00 area
- Daily close above 59.57/60.00 cap would neutralise the bearish structure
- ADP/Warsh/ISM Wed and Thursday's labour cluster could materially shift this read