Silver has staged a >5% recovery from the 55.60-56.60 YTD-low zone after the big June NFP miss (57K vs 110K) forced a dovish Fed repricing, printing a clean higher-low sequence back above the 60.00 pivot. Price stalled at the 62.88 recent high with the 63.50 barrier just overhead; ATR(14) is expanding as the rally extends. Both EMAs sit below price, confirming the shorter-term structure has turned up despite the broader bearish backdrop.
Support: 60.00
Resistance: 62.88, 63.50
What it said to watch
H4 close above 63.50 barrier opens the path higher
Failure to hold the 60.00 pivot re-exposes the YTD-low zone
ISM Services PMI Mon 14:00 GMT could reset the read
Higher lows since YTD-low base, within broader downtrend.
Silver based in the 55.60-56.60 YTD-low zone and reversed more than 5%, carving higher lows to reclaim the $60.00 pivot after Thursday's soft NFP crushed Fed hike bets. Price now presses the $62.88 swing high with the $63.50 barrier just above; the broader H4 structure is still the downtrend from $71. ATR(14) is expanding as the recovery leg extends.
Support: 60.00, 56.60
Resistance: 62.88, 63.50
What it said to watch
H4 close above 63.50 barrier opens the path higher; failure keeps price capped at the swing high
Loss of the 60.00 pivot reopens the 56.60 ytd-low zone
ISM Services Mon 14:00 GMT and FOMC minutes Wed could materially shift this read