22:09 UTC
Downtrend, extending into oversold · RSI 18 · price 49.118
Lower highs from 58.59; 52.66-54.61 range broken lower.
Silver has printed lower highs since the 58.59 peak. The multi-day range floor at 52.66, defended twice last week, gave way on Thursday, and the slide then cascaded through 51.00 and the psych 50 handle to a 48.85 swing low, with hawkish-Fed pricing and broad de-risking driving Friday's >5% drop. ATR(14) has expanded to roughly 870 pips. RSI near 18 is deeply oversold, and price sits well below both EMAs, so overhead levels from the psych 50 to the fib 38.2 near 51.05 are where any bounce meets first resistance.
Support: 48.851, 48.00
Resistance: 51.05, 52.657
What it said to watch
- ISM Manufacturing PMI Mon 15:00 UTC (f/c 54.7, Prices Paid 77.5) could materially shift this read; a soft print risks an oversold squeeze
- H4 close back above the psych 50 level would mark the first reclaim since the breakdown
- Fib 38.2 near 51.05 and the former range floor at 52.66 are overhead resistance on any recovery
- Failure to hold the 48.85 swing low extends the lower-low sequence toward the 48.00 round number
- Lower-highs trendline from 58.59 stays intact while price holds below the range floor