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.
21:06 UTC
Downtrend, momentum stabilising off lows · RSI 44 · price 59.648
Lower highs / lower lows, basing near YTD low.
Multi-month downtrend intact: silver has shed roughly a third from the late-February 94 area, printing a fresh YTD low near 55.60 in late June before a three-session bounce back toward 60. The recovery followed a big NFP miss (57K vs 110K) that undercut the hawkish-Fed narrative and fuelled short-covering, but price remains below a falling EMA(50) and the 60.00 pivot still caps. RSI has lifted off oversold without confirming a structural turn.
Support: 57.40, 55.609
Resistance: 60.00, 62.366
What it said to watch
- Daily close above 60.00 psych cap would open the path back toward 62.37
- Failure to hold 57.40 swing low exposes the 55.60 ytd low
- ISM Services PMI Mon and FOMC Minutes Wed could materially shift this read
21:06 UTC
Downtrend, bounce off YTD low · RSI 43 · price 59.648
Lower highs / lower lows, basing near range floor.
Multi-month downtrend from the late-February high near 96 down to the YTD low at 55.60, with silver off roughly 16% on the year and trading well below a falling EMreactor(50). Price bounced off 55.60 mid-week and firmed after Friday's big NFP miss (57K vs 110K), which cut into the hawkish-Fed narrative; the recovery is now pressing the 60.00 psych cap. The last eight sessions have compressed into a 56.60-60.00 consolidation just above the range floor.
Support: 55.70
Resistance: 60.00
What it said to watch
- Daily close above 60.00 psych cap opens the path back toward 65 and the prior-high shelf
- Failure to hold 55.70 ytd low confirms a fresh lower-low
- ISM Services (Mon) and FOMC Minutes (Wed) could materially shift this read