Lower highs below 61.71, basing just above 60.03 week low.
The Friday-to-Wednesday drop from 65.08 was driven by Monday's session. The gap lower off the 64.32 Friday close extended through Asia and London to 60.94, and the Tue low at 60.29 followed before a NY-session rebound to the Wed high at 61.71. The soft core PCE print produced a spike to 61.56 around the NY open that was rejected within the hour, as the GDP, ADP and Chicago PMI beats kept yields firm and drove a slide to the 60.03 week low. Price is now consolidating just above the Tue low, below EMA20 and EMA50, with RSI(14) in the high 30s and hourly ranges narrowing.
Support: 60.289, 60.028
Resistance: 60.65, 61.562, 61.712
What it said to watch
Hourly close below the 60.03 week low and 60.00 extends the downtrend to fresh lows for the Friday-to-Wednesday drop
Recovery above ema20 near 60.65 and the lower-high line from 61.71 to 61.56 would ease the lower-high sequence
Acceptance above the 61.56 pce spike and 61.71 wed high would put the 38.2% retracement near 61.96 in play
ISM Manufacturing and Prices Paid (Thu 14:00 UTC, f/c 55 / 72.3) alongside Waller could materially shift this read
Initial Jobless Claims at 12:30 UTC Thu vs 200K forecast is the first data test of the 60.03–60.29 floor
Lower highs and lower lows since Monday's gap; bounces capped below 61.80.
Monday opened on a gap below Friday's 64.318 close. It then slid roughly $3 through the Asia session and London open, and each rebound since has printed a lower high under the descending trendline off the 61.794 Monday high. Wednesday's post-PCE spike to 61.562 (the pce high) was rejected within two bars as GDP, ADP and Chicago PMI beats firmed yields and the dollar. That pushed price through the Tuesday low to a 60.028 week low. Price is now drifting just below the ema20 at around 60.65, with RSI(14) near 37 and off its lows.
Support: 60.289, 60.028
Resistance: 60.65, 61.562, 61.794
What it said to watch
An H1 close above the ema20 near 60.65 would mark the first reclaim since Wednesday's NY-session drop.
A break of the descending trendline and a close above the 61.794 monday high would end the lower-high sequence. The 38.2% level of the Friday high to week low leg sits near 61.96.
Failure to hold the 60.028 week low and the 60.00 round number would extend the lower-low sequence. A hold keeps the tuesday low at 60.289 as the first shelf above.
Thu 12:30 UTC jobless claims and 14:00 UTC ISM Manufacturing / Prices Paid (f/c 55 / 72.3), alongside Waller, could materially shift this read.
21:09 UTC
Downtrend, stalling just above the week low · RSI 43 · price 60.389
Lower highs from 61.80; Tue–Wed 60.29–61.71 range broken lower.
Silver has held a downtrend since Monday's gap-lower open near 64.01. Most of the drop printed through Asia and early London on Monday, then price held a 60.29–61.71 range through Tuesday and Wednesday's Asia session. Today's soft core PCE spike to 61.56 was rejected at the 38.2% fib of the week drop as GDP, ADP and Chicago PMI beats kept yields firm, and the NY session broke the tuesday low to a new week low at 60.03; price is now back just above 60.29 but below ema20 near 60.65, with RSI(14) recovering to ~42 from the mid-30s.
Support: 60.289, 60.028
Resistance: 60.645, 61.562
What it said to watch
Hourly close back below the tuesday low at 60.29 reopens the week low at 60.03 and the 60.00 psych level
Failure to hold the week low at 60.03 extends the lower-low sequence
Recovery above ema20 and the 23.6% fib near 60.99 would return price to the prior 60.29–61.71 range
Close above the 38.2% fib at 61.56 and the lower-high trendline would break the lower-high sequence
Kashkari (22:00 UTC tonight), then ISM Manufacturing / Prices Paid with Waller (Thu 14:00 UTC) could materially shift this read
Lower-high sequence from 61.80/61.71, fresh week low at 60.028.
Silver has printed lower highs and lower lows since Monday's Asia-led breakdown from the 64.01 weekly open. Tuesday's rebound stalled at Wednesday's 61.712 Asia high, just above the 38.2% of the weekly drop fib. The soft core PCE print lifted price to 61.56 in the NY session, but beats in GDP, ADP and Chicago PMI turned that into a rejection that took out Tuesday's 60.29 low and set a new week low at 60.028. Price now sits below the EMA(20) near 60.63 with RSI(14) in the low 30s, compressing just above the 60.00 round number.
Support: 60.028, 60.00
Resistance: 60.63, 61.00, 61.712
What it said to watch
H1 close below the 60.028 week low and 60.00 round number extends the lower-low sequence
Reclaim of the ema20 near 60.63 and the psych 61.00 level would ease the downside pressure
H1 close above the 61.712 wed high breaks the lower highs trendline and the 38.2% weekly drop fib
Fed speakers Goolsbee and Kashkari tonight could shift the read
ISM Manufacturing and Prices Paid Thu 14:00 UTC (f/c 55 / 72.3) could materially shift this read
19:06 UTC
Downtrend, lower highs and lower lows since Monday · RSI 34 · price 60.227
Tue–Wed range floor broken; price pinned just above the 60.00 psych level.
Silver has carved lower highs and lower lows since Monday's gap-lower open at 64.01. Monday's ~5% slide did most of the damage through the Asia and London sessions. Today's soft core PCE spiked price to 61.56, close to the 38.2% retracement of the Monday decline, before beats in GDP, ADP and Chicago PMI saw the pce spike rejected. Price then slipped through the tuesday low at 60.29 to a fresh week low at 60.03, and now sits below the H1 ema20 near 60.66 with RSI(14) around 34, just above the 60.00 psych level.
Support: 60.028, 60.00
Resistance: 60.289, 60.66, 61.562
What it said to watch
H1 close back above the 60.29 tuesday low would mark the range break as a false break
Sustained trade below the 60.03 week low and 60.00 psych level extends the lower-low sequence
Recovery through the ema20 near 60.66 and the lower highs trendline toward the 61.56 pce spike would challenge the downtrend read
Fed's Cook (19:25 UTC), Goolsbee (20:05) and Kashkari (22:00) tonight could materially shift this read
ISM Manufacturing and Prices Paid Thu 14:00 UTC (f/c 55 / 72.3) are the next data risk for yields and silver
Lower highs from Monday's 61.80 peak; Tue–Wed 60.29–61.71 range broken to the downside.
Silver has held a sequence of lower highs since Monday's session, when it slid from the 64.01 weekly open through the 62.00 area during Asia and London hours. Today's NY-session PCE spike to the 61.56 pce high was sold back into the lower highs trendline, and the drop broke Tuesday's 60.29 prior low to set a new week low at 60.03, just above the 60.00 psych level. Price sits below EMA(20) near 60.69 with RSI(14) near 32, which is still above Monday's deeper oversold reading despite the lower price.
Support: 60.028, 60.00
Resistance: 60.289, 60.69, 61.562
What it said to watch
H1 close back above the 60.29 prior low turns today's break into a false break
Sustained trade below the 60.00 psych level extends the Monday selloff leg into fresh week lows
Recovery above the ema20 near 60.69 and then the 61.56 pce high would break the lower highs sequence
Fed's Cook (19:25 UTC), Goolsbee and Kashkari tonight could shift the read around 60.00
Thursday's ISM Manufacturing and Prices Paid at 14:00 UTC is the next scheduled volatility risk
Lower highs from 61.80; Tue–Wed range broken lower.
Monday's slide from the 64.01 weekly open to 60.74 set the week's direction. Tuesday–Wednesday then ranged 60.29–61.71 under a series of lower highs, with the 38.2% retracement of Monday's drop sitting near 61.61. The NY-session spike on the PCE miss met rejection at the 61.56 pce high and faded as the GDP, ADP and Chicago PMI beats firmed USD. Price has since broken the tuesday low to print a week low at 60.09 and sits below EMA(20) near 60.86, with RSI(14) around 33.
Support: 60.086, 60.00
Resistance: 60.289, 60.86, 61.562
What it said to watch
Hourly close back above the 60.29 tuesday low would mark the break as a false break
Failure to hold 60.00 psych extends the lower-low sequence
Recovery through ema20 near 60.86 and the 61.56 pce high would challenge the lower highs line
Fed's Cook, Goolsbee and Kashkari tonight could materially shift this read
ISM Manufacturing and Prices Paid Thu 14:00 UTC is the next scheduled volatility risk
16:05 UTC
Downtrend, fresh week low · RSI 33 · price 60.185
Lower highs from 61.80, range break below Tuesday low.
Monday's ~5% slide from the 64.01 weekly open set the week's direction, with the heaviest selling in the Asia session, and rallies since have printed lower highs at 61.80, 61.71 and 61.56. The 61.56 spike on the soft core PCE print met rejection into the NY session as hot GDP, ADP and Chicago PMI kept hike pricing firm, and price broke the Tuesday low at 60.29 to a week low of 60.09. Price sits below EMA(20) near 60.80 and EMA(50), with RSI(14) near 33 and not yet oversold.
Support: 60.086, 60.00
Resistance: 60.289, 60.80, 61.562
What it said to watch
H1 close back above 60.29 (tuesday low) would mark the break as a false break
Failure to hold the 60.09 week low exposes the 60.00 round number
Reclaim of EMA(20) near 60.80 needed to stall the lower-highs sequence
H1 close above 61.56 lower high breaks the lower-highs trendline
Fed's Cook, Goolsbee and Kashkari tonight (19:25–22:00 GMT) could materially shift this read
Thursday ISM Manufacturing at 14:00 GMT (f/c 55, Prices Paid 72.3) is the next major catalyst
Lower highs inside a 60.29–61.71 range after Monday's drop.
Silver has stepped lower since the 64.01 weekly open. Monday's drop ran from Asia into London and reached a 60.29 week low on Tuesday. The rebound stalled at the 61.71 Tuesday high, close to the 38.2% retracement of that leg. Today's split US data drove a spike to the 61.56 PCE high on the soft core print, but the move was fully rejected in the NY session as hot GDP, ADP and Chicago PMI weighed. That leaves price at 60.40, below the EMA(20) near 60.95, with RSI(14) near 37.
Support: 60.289, 60.00
Resistance: 60.95, 61.562, 61.712
What it said to watch
H1 close below the 60.29 week low confirms a lower-low and exposes the 60.00 round number
Recovery above the EMA(20) near 60.95 and the 61.56 PCE high would break the lower-highs trendline and bring the 61.71 Tuesday high back into view
Fedspeak tonight (Cook 19:25, Goolsbee 20:05, Kashkari 22:00 GMT) and Thursday's ISM Mfg at 14:00 GMT could materially shift this read
14:04 UTC
Downtrend, pausing in a base · RSI 42 · price 60.83
Range 60.29–61.71 after Monday's collapse; higher low, lower highs.
The dominant move of the week came from Asia into London on Monday. Silver fell from the 64.01 weekly open to about 60.94, breaking 62.00 as hawkish-Fed and yield pressure built. Since Tuesday's 60.29 week low, price has compressed inside a 60.29–61.71 range, with a higher low at 60.56 today and lower highs capping the range top just under the 38.2% fib of Monday's drop. The soft core PCE print spiked price to a 61.56 pce high early in the NY session. That spike was rejected within the hour, and price is back below EMA(20) at 60.99 with RSI(14) near 42.
Support: 60.56, 60.29
Resistance: 60.99, 61.56, 61.71
What it said to watch
An H1 close above the 61.71 range top, at the 38.2% fib of Monday's drop, would break the lower highs and open a path toward 62.00.
Failure to hold the 60.56 higher low exposes the 60.29 week low; a close below it resumes the downtrend.
Holding below EMA(20) at 60.99 after the pce high rejection keeps the range capped.
Fed speakers Cook, Goolsbee and Kashkari tonight, then Thursday's ISM Manufacturing at 14:00 GMT, could materially shift this read.
13:07 UTC
Downtrend, basing in a tightening range · RSI 54 · price 61.193
Post-selloff range 60.29–61.71, higher low and lower highs converging.
Monday's selloff took silver from the 64.01 weekly open to the 60.29 week low in Tuesday's Asia session, breaking 62.00, now broken supp overhead. Since then H1 has boxed between 60.29 and the 61.71 range top, which sits on the 38.2% retracement of that leg, with a higher low at the 60.56 swing low in London and lower highs capping. The 12:30 GMT split data (core PCE miss vs ADP/GDP beats) spiked price to the 61.56 PCE high before fading, leaving it just above EMA(20) near 61.04, below EMA(50) near 61.31, and RSI(14) around 54.
Support: 61.04, 60.56, 60.29
Resistance: 61.56, 61.71, 62.00
What it said to watch
H1 close above the 61.71 range top and 38.2% fib opens the 62.00 broken supp zone
A move back through the 61.56 PCE high would break the lower highs line
Loss of the 60.56 swing low breaks the higher lows line and exposes the 60.29 week low
Close back below ema20 near 61.04 returns price to the lower half of the range
Chicago PMI 13:45 GMT, Fed's Cook/Goolsbee/Kashkari tonight and Thursday's ISM 14:00 GMT could materially shift this read
Lower highs inside a 60.29–61.71 post-flush range.
The week's decline began with Monday's ~5% flush from the 64.01 weekly open. It ran through Asia into London as multi-year-high yields and hawkish Fed pricing hit metals, and the slide extended to the 60.289 week low in Tuesday's Asia session. The rebound stalled with lower highs at 61.80 on Monday, 61.71 at Wednesday's asia high, then 61.48 during London. Price has since slipped back below the ema20 near 61.05 to sit just above the day low at 60.56, with RSI(14) near 41 heading into US data.
Support: 60.558, 60.289, 60.00
Resistance: 61.05, 61.48, 61.712
What it said to watch
ADP at 12:15 GMT and core PCE at 12:30 GMT land within the next bar and could materially shift this read
H1 close below the 60.289 week low extends the lower-low sequence and opens the 60.00 round number
Reclaim of the ema20 near 61.05 followed by a break of the 61.48 lower high would challenge the downtrend read
H1 close above the 61.71 asia high and the lower highs trendline breaks the range cap
Failure to hold the 60.558 day low returns focus to the week low
11:06 UTC
Downtrend, rebound fading · RSI 41 · price 60.726
Lower highs at 61.80, 61.71 and 61.48 inside a 60.29–61.80 post-flush range.
Monday's Asia and London sessions drove a flush from the 64.01 weekly open through 62.00, as hawkish Fed pricing and multi-year-high yields hit silver. The week low printed at 60.289 early Tuesday. The rebound met a rejection at the 38.2% fib near 61.75 in Asia and set a lower high at 61.48 in London today, and price has since slipped back under EMA(20) and through the higher lows line off the week low, with RSI(14) near 41 and price back at Monday's low.
Support: 60.605, 60.289, 60.00
Resistance: 61.48, 61.75
What it said to watch
H1 close below the 60.605 monday low exposes the 60.289 week low and the 60.00 psych level
Break of the 60.289 week low confirms a fresh lower low in the downtrend
Recovery above EMA(20) and the 61.48 lower high reopens the 38.2% fib at 61.75 and the lower highs line
US ADP at 12:15 and core PCE at 12:30 UTC today could materially shift this read
10:34 UTC
Downtrend, momentum stalled in a range · RSI 44 · price 60.817
Post-flush range 60.29–61.79, capped at the 38.2% fib.
Monday's Asia-to-London flush took silver from 64.01 at the week open to the 60.29 week low in Tuesday's Asia session, driven by multi-year-high yields and hawkish Fed repricing. Since then price has ranged between 60.29 and 61.79. The range top sits on the 38.2% fib of the drop and rejected both Monday's NY bounce and Wednesday's Asia high at 61.71, while the London open push stalled at 61.48. Price is back at the session low near 60.78, below the EMA(20) at 61.05, with RSI(14) in the mid-40s into US data.
Support: 60.78, 60.29
Resistance: 61.05, 61.75, 62.00
What it said to watch
ADP at 12:15 GMT and core PCE at 12:30 GMT (f/c 3.3%) could materially shift this read
H1 close below the 60.29 week low confirms a lower low and extends the downtrend
Failure to hold the 60.78 session low puts the week low back in focus
A reclaim of the EMA(20) at 61.05 would put the range top at 61.75 back in play
H1 close above the 61.75 range top / 38.2% fib breaks the range and exposes 62.00 former support
Post-breakdown pennant: higher lows vs lower highs.
Silver is down about 5% from Monday's 64.01 open. Rising yields and hawkish Fed repricing drove the Monday slide through 62.00, and the 60.29 week low printed early Tuesday before a modest short-covering bounce in the NY session. Since then H1 has compressed into a pennant of higher lows against lower highs: the Asia high at 61.71 stalled at the 38.2% retracement of the Monday slide, and the London high at 61.48 was rejected this morning, leaving price pinned just under EMA(20) near 61.10 with RSI(14) flat around 51.
Support: 60.81, 60.29
Resistance: 61.48, 61.71, 62.00
What it said to watch
ADP at 12:15 GMT and core PCE at 12:30 GMT (f/c 3.3%) could materially shift this read
H1 close below the 60.81 higher low breaks the pennant and exposes the 60.29 week low
H1 close above the 61.71 Asia high clears the 38.2% retracement, with 62.00 broken support the next overhead reference
Another failure at the 61.48 London high keeps the lower-high sequence intact
60.29–61.75 range after Monday breakdown, higher low at 60.81.
Silver fell about 5% from Monday's 64.01 weekly open through the 62.00 broken supp as rising yields and a firm USD drove the move, with the heaviest selling in the Asia session and again at the NY open. Since Tuesday's 60.29 week low, price has held a range below the 61.75 range top, and it printed a higher low at Wednesday's 60.81 Asia low along the higher lows line. Price sits just above EMA(20) but below EMA(50), with RSI(14) near 50, and the rebound has retraced less than 23.6% of the breakdown fib.
Support: 60.81, 60.29
Resistance: 61.75, 62.00
What it said to watch
ADP at 12:15 UTC and Core PCE at 12:30 UTC today could materially shift this read
H1 close above the 61.75 range top would challenge the lower-high sequence and put the 62.00 broken supp in view
Failure to hold the 60.81 Asia low breaks the higher lows line and returns focus to the 60.29 week low
A break below the 60.29 week low resumes the downtrend toward fresh lows since early August
Lower highs at 61.80/61.71 vs higher lows off 60.29, compressing.
Monday's ~5% flush from the 64.08 weekly open set the week's tone as yields pushed toward 19-year highs. The 60.29 week low printed in late Asia Tuesday on a lower close but a higher RSI(14) reading, a bullish divergence. The rebound through Tuesday's NY session stalled at the 61.71 Asia high, near the 38.2% of Monday's drop and just under Monday's 61.80 lower high. Price now sits between EMA(20) at 61.12 and EMA(50) near 61.40, with RSI(14) flat at 50, and higher lows against lower highs are compressing the range between the 60.81 Asia low and 61.71.
Support: 61.12, 60.81, 60.29
Resistance: 61.40, 61.71, 62.00
What it said to watch
ADP at 12:15 UTC and core PCE at 12:30 UTC today (f/c 3.3%) could materially shift this read
An H1 close above the 61.71 Asia high and the lower highs line reopens the 62.00 broken level
Failure to hold the higher lows line and the 60.81 Asia low puts the 60.29 week low back in focus
Sustained trade above EMA(50) near 61.40 would be the first shift away from the downtrend structure
Post-flush consolidation between lower highs and higher lows, below broken 62.00.
Monday's flush from the 64.08 weekly open ran mostly through Asia and early London as yields climbed. It broke the 62.00 support and bottomed at the 60.29 week low early Tuesday. The NY-session rebound was rejected at 61.71, near the 38.2% retracement of that flush and a lower high under Monday's 61.80 spike, and Asia has since faded it to the wed low at 60.81. Price is now pinned on EMA(20) near 61.10 and below the EMA(50) around 61.40, with RSI(14) flat near 50.
Support: 60.812, 60.289
Resistance: 61.40, 61.712, 62.00
What it said to watch
H1 close above the 61.71 lower high and the lower-highs trendline opens a deeper retracement toward broken support at 62.00
Failure to hold the 60.81 wed low breaks the higher-lows line and puts the 60.29 week low back in play
Sustained trade back above the EMA(50) near 61.40 would mark the first shift in the H1 downtrend
ADP at 12:15 UTC and core PCE at 12:30 UTC today could materially shift this read
Post-flush consolidation, higher lows vs lower highs.
Silver fell from the 64.01 weekly open in Monday's Asia session and broke the 62.00 support, as rising yields and a firmer USD drove the slide. Tuesday's Asia-session week low at 60.29 was followed by a NY-session bounce. That bounce met rejection at the 61.71 bounce high, just under the 38.2% retracement of the week's drop, and has since eased to the Asia low at 60.81. Price now sits on the EMA(20) at 61.09, below the EMA(50) at 61.35, with RSI(14) flat near 48 as higher lows from 60.29 press against lower highs from 61.80.
Support: 61.09, 60.81, 60.29
Resistance: 61.35, 61.71, 62.00
What it said to watch
ADP at 12:15 UTC and Core PCE/GDP at 12:30 UTC today could materially shift this read
H1 close above the 61.71 bounce high and 38.2% fib reopens the 62.00 broken supp
Failure to hold the 60.81 asia low breaks the higher lows line and exposes the 60.29 week low
Repeated H1 closes below the ema50 at 61.35 keep the lower highs sequence intact
Monday's Asia and London sessions did the week's damage. Silver fell from the 64.01 weekly open to 60.94 as hawkish Fed talk pushed yields higher, and Tuesday's Asian session then printed the 60.29 week low. Since then H1 has carved higher lows at 60.29, 60.70 and 60.81, but bounces have stalled. The 61.71 Asia high sits just under Monday's 61.80 peak, and price is back below a flattening EMA(20) at 61.07 with RSI(14) neutral near 48 and EMA(50) overhead near the 23.6% fib at 61.42.
Support: 60.812, 60.289
Resistance: 61.07, 61.42, 61.712
What it said to watch
Break below the 60.81 session low and the higher-lows trendline returns focus to the 60.29 week low
Failure to hold the 60.29 week low confirms a fresh lower-low in the downtrend
Hourly close back above EMA(20) at 61.07 and the 23.6% fib at 61.42 would put the 61.71 Asia high back in play
ADP at 12:15 UTC and core PCE at 12:30 UTC (f/c 3.3%) could materially shift this read via the 10y yield
Lower highs from Friday's 65.08 peak; higher lows since Tuesday's 60.29 base.
Silver has shed about $3.80 since Monday's open. Most of the slide came through Monday's Asia and London sessions as US yields pressed 19-year highs on hawkish Fed repricing, cutting through the 62.00 former support. Tuesday's Asia-session week low at 60.29 printed with a higher RSI(14) low, and a line of higher lows has formed since. The rebound stalled at the 61.71 bounce high after NY close, right at the 38.2% fib of the Monday leg, which also marks a second lower high under Monday's 61.80. Price is now pinned to EMA(20) and still below EMA(50), with the Asia low at 60.81 the nearest support.
Support: 60.812, 60.289
Resistance: 61.712, 62.00
What it said to watch
Failure to hold the 60.81 Asia low breaks the higher-low line and puts the 60.29 week low back in focus
H1 close above the 61.71 bounce high clears the lower-high line and 38.2% fib, opening a deeper retracement toward 62.00 former support
ADP at 12:15 UTC and core PCE at 12:30 UTC (f/c 3.3%) could materially shift this read
Sharp Monday leg lower, then higher-low base capped at 38.2% retracement.
Monday's Asia-into-London slide from the 64.01 weekly open broke 62.00 old support as yields and the dollar pushed higher, and Tuesday's Asia session printed a week low at 60.289; the soft JOLTS miss gave the metal no relief. A NY-afternoon rally extended into today's Asia session but stalled at 61.71, right at the 38.2% fib of the sell-off. Price has slipped back just below the ema20 near 61.12 with RSI(14) at 48 and EMA50 overhead at 61.49, while the 60.94 asia low sits on the higher-lows line drawn from Tuesday's base.
Support: 60.94, 60.289
Resistance: 61.12, 61.71, 62.00
What it said to watch
H1 close below the 60.94 asia low and the higher-lows line reopens the 60.289 week low
Acceptance back above the ema20 and the 61.49 EMA50 would put the 61.71 38.2% fib back in play
A close above 61.71 shifts the read toward a deeper retracement, with 62.00 old support next
ADP at 12:15 UTC and Core PCE at 12:30 UTC (f/c 3.3%) could materially shift this read
Monday's Asia-into-London slide took silver from the 64.01 weekly open to 60.74 as yields and the dollar pushed higher, and a NY-hours spike to 61.80 reversed straight back. Tuesday built a base off the 60.29 week low with a run of higher lows, and the 61.00 prior cap gave way during NY hours. Price now holds above EMA(20) at 61.15 with RSI(14) back near 55, but the 61.71 Asia high was rejected just under the 38.2% fib of Monday's drop, with EMA(50) at 61.52 capping closes.
Support: 61.15, 61.00, 60.289
Resistance: 61.52, 61.712, 62.00
What it said to watch
H1 closes back above EMA(50) at 61.52 and the 61.71 Asia high would open the broken supp zone at 62.00, near the 50% fib
Failure to hold EMA(20) and the 61.00 prior cap, plus a break of Tuesday's higher-lows line, returns focus to the 60.29 week low
ADP at 12:15 UTC and Core PCE at 12:30 UTC today (f/c 3.3%) could materially shift this read
Month- and quarter-end USD flows into today's close could distort H1 structure
00:04 UTC
Downtrend, early base forming off the week low · RSI 57 · price 61.502
Tuesday 60.29–61.34 base broken to the upside; price stalled at EMA(50) below Monday's high.
Most of the week's damage came in Monday's Asia session. Silver fell from the 64.01 weekly open through 62.00, and the NY session extended the drop to a 60.29 week low early Tuesday as surging Treasury yields and a firm USD dominated. Tuesday built a 60.29–61.34 base on higher lows, and a late-NY push cleared that range top and the 61.00 round number, lifting price above EMA(20) near 61.15 with RSI(14) back around 57. Price is now pinned at the ema50 near 61.53 and the 23.6% retrace of the 65.08–60.29 decline, just under the 61.80 monday high.
Support: 61.342, 61.00, 60.289
Resistance: 61.53, 61.803, 62.00
What it said to watch
H1 close above the 61.80 monday high opens the 62.00 broken supp and the 38.2% fib near 62.12
A move back below the 61.34 range top returns price to Tuesday's base and brings the 61.00 round number back into play
A break of the higher lows trendline and the 60.29 week low would resume the downtrend
ADP at 12:15 UTC and Core PCE at 12:30 UTC Wednesday could materially shift this read