Silver bottomed near the $55.60 YTD low mid-window and has since carved higher lows, pushing through the repeatedly-capping $60.00 pivot after the big NFP miss (57K vs 110K) undercut the hawkish-Fed narrative. Price now sits at 60.81 above both EMA20 and EMA50, with the last impulse tagging 62.06 before pulling back. ATR near 1310 pips shows the range remains volatile rather than compressing.
Support: 60.00, 57.40, 55.609
Resistance: 62.059, 63.90
What it said to watch
Sustained H4 close above 62.06 opens the path back toward the $63.90 swing zone
Failure to hold the $60.00 pivot on a retest re-exposes the 57.40 swing low
ISM Services Mon and FOMC Minutes Wed could materially shift this read
17:04 UTC
Recovery off lows, momentum building · RSI 64 · price 61.07
Higher lows since 55.60 base, testing 62.
Silver carved a base near seven-month lows around 55.60 and has built a sequence of higher lows, reclaiming the 60.00 pivot after the big US NFP miss (57K vs 110K) forced a hawkish-Fed unwind. Price is now pressing the 62 area with ATR(14) expanding on the recovery leg. The move has stretched from the 55.60 low with the EMA20 and EMA50 both below price.
Support: 60.00, 58.30, 56.60
Resistance: 62.06
What it said to watch
A sustained hold above the 60.00 pivot keeps the recovery structure intact
H4 close back below 58.30 would re-open the 56.60 range base
A clean break above 62.06 extends the recovery leg
ISM Services (Mon) and FOMC Minutes (Wed) could materially shift this read
Silver carved a rounded bottom off the $55.60 YTD low and has clawed back above the $60.00 pivot, closing at 61.07 after the big NFP miss (57K vs 110K) forced a hawkish-Fed unwind. Higher lows have stacked since mid-window and ATR is expanding as the recovery extends, though the $62 swing high is still capping. Holding above the $60.00 pivot keeps the recovery structure intact.
Support: 60.00, 57.40, 55.60
Resistance: 62.06, 64.00
What it said to watch
H4 close back below 60.00 pivot reopens the 57.40 range base
Sustained break above 62.06 swing high exposes 64.00 prior high
ISM Services PMI Mon and FOMC Minutes Wed could materially shift this read
Basing above 57 after 56.53 low, higher lows building.
The dominant H4 structure is a multi-week downtrend from 74, but price has carved a rounded base off the 56.53/55.61 lows and is now pressing the $60 pivot after the soft US NFP print (57K vs 110K) knocked the dollar. Higher lows since mid-window and expanding ATR mark a genuine relief bounce; the reaction at 60.00 defines whether this becomes a range break or another fade. Demand has stepped in repeatedly near 57.40, keeping the base intact.
Support: 57.40, 56.53, 55.61
Resistance: 60.00, 60.99
What it said to watch
H4 close above 60.00 opens the path toward the prior 60.99 swing high and $70 region
Rejection at 60.00 and slip back below 57.40 re-targets the 56.53 range low
Fed's Daly speech could shift USD tone and stall the bid near the $60 pivot
The multi-week structure is a clear downtrend — roughly 74 down to the 55.63 YTD low — but price has carved a rounded base and staged a relief bounce off that low after the soft US NFP print (57K vs 110K) pressured the dollar. Silver reclaimed $60 intraday and is now consolidating just beneath the $60 pivot, with EMA20 and EMA50 recovering under price. ATR remains elevated, keeping the swings wide either side of $60.
Support: 57.40, 55.63
Resistance: 60.00, 60.99
What it said to watch
H4 close above 60.00 pivot opens the path toward 60.99 swing high and beyond
Failure to hold 57.40 swing low reasserts the downtrend toward the 55.63 ytd low
Fed's Daly speech and ISM Services Mon could reshape the dovish USD read driving this bounce
Basing above 56.60 after selloff, higher lows forming.
The broader H4 structure is a downtrend that carried silver from the low-70s to a 55.60 base, but a relief bounce off 56.60 has reclaimed the $60.00 pivot after soft US ADP/ISM data cooled Fed-hike bets. Higher lows have built since the bottom while the $60.00-60.99 band repeatedly caps, so price is coiling between demand at 57.40 and supply at 60. Price sits above a rising EMA20 but remains below the EMA50, consistent with a countertrend recovery rather than a confirmed reversal.
Support: 57.40, 56.60, 55.60
Resistance: 60.00, 60.99
What it said to watch
US Nonfarm Payrolls at 12:30 UTC today is the dominant catalyst and could redefine this read
H4 close above 60.99 would extend the recovery and challenge the downtrend read
Failure to hold 57.40 reopens 56.60 and the 55.60 ytd low
Silver remains in a broader downtrend (-22% YTD) but has carved a double bottom near 55.61-56.60 and reclaimed the 60.00 pivot after soft US ADP/ISM prints cooled Fed hike bets. Structure now shows higher lows off the base, with price stalling into the 60.00 pivot as EMA20 flattens back above price and EMA50 caps overhead near 60.5. ATR remains elevated after the capitulation leg down to 56.53.
Support: 57.40, 56.60, 55.61
Resistance: 60.00, 60.99
What it said to watch
US Nonfarm Payrolls today 12:30 UTC is the dominant catalyst and could reset this read
Sustained close above the 60.00 pivot opens the 60.99 swing high
Loss of the 57.40 higher low negates the recovery structure and re-exposes the 56.60 bounce low
Lower highs/lows from 73; basing near 56.5, recovering into $60 cap.
Silver has been in a clear H4 downtrend from 73, but a twin base near 56.5-56.6 has fuelled a corrective bounce that is now testing the $60.00 psych cap, helped by this week's soft US ADP/ISM prints easing the dollar. Price has reclaimed the EMA20 and is probing the recent high at 60.69, though the broader lower-high structure remains intact. ATR near 1300 pips shows the bounce is expanding, not compressing.
Support: 57.40, 56.61, 56.53
Resistance: 60.00, 60.69
What it said to watch
US Nonfarm Payrolls at 12:30 UTC could materially shift this read
Sustained H4 close above 60.00 psych cap would extend the corrective bounce
Failure to hold 57.40 swing low reopens the path to the 56.53 ytd low
Silver remains in a broader downtrend but has staged a corrective bounce off the 55.60 base, carving higher lows and now pressing the $60.00 cap after soft US ADP/ISM prints eased the hawkish-Fed dollar. Price is back above both EMAs for the first time since the mid-June breakdown, with ATR still elevated. The $60 psych level is the pivot defining whether the recovery extends.
Support: 60.00, 57.40, 56.61
Resistance: 60.99
What it said to watch
US Nonfarm Payrolls at 12:30 UTC today could materially shift this read
Sustained acceptance above 60.00 opens the path toward the 60.99 swing high
Failure to hold 57.40 puts the 56.61 range low back in play
Silver remains in a broader downtrend after the 74-to-55.6 slide, but the last two weeks show a double bottom near 56.5 and a grind of higher lows, with price now reclaiming the EMA20 around 58.7. The 60.00 psych pivot — a former support turned resistance flagged in the macro read — capped the latest push at 60.99 before the pullback to 59.03. The recovery is unfolding into Thursday's NFP, which the digest frames as the dominant catalyst.
Support: 57.40, 56.53, 55.63
Resistance: 60.00, 60.99
What it said to watch
US NFP Thu 12:30 UTC could materially shift this read
Sustained close above 60.00 psych pivot invalidates the resistance cap
Loss of 57.40 range low reopens the 56.53 swing low and 55.63 ytd low