Lower highs 58.03 → 54.61 → 53.45; double bottom near 48.60 with tight consolidation above 51.57.
Silver's three-week lower-high sequence (58.03, 54.61) bottomed in a double bottom at the 48.85/48.60 one-year low. The Democratic midterm sweep sank USD and yields, sparking a near-vertical rally through the 51.26 neckline. Firmer US labour data stalled that rebound at the 53.45 rebound high, under the falling lower-highs line. Price is now consolidating between 51.57 and 53.45, above both EMAs, with the 51.57 swing low holding at the 38.2% fib of the rally; ATR(14) near 910 pips points to an expanded volatility regime.
Support: 51.57, 51.03, 48.60
Resistance: 53.45, 54.61, 55.00
What it said to watch
H4 close above the 53.45 rebound high breaks the lower-highs sequence and exposes the 54.61 prior high, then the 55.00 round number
Failure to hold the 51.57 swing low opens the fib 50% at 51.03 and weakens the double bottom read
Return toward the 48.60 one-year low would put the double bottom under retest
US NFP (f/c 65K), AHE and unemployment rate Fri 13:30 UTC, with Fed's Williams at 09:30 UTC, could materially shift this read
Lower highs 58.06 → 54.61 → 53.45; bounce retesting old range floor from below.
Silver's lower-high sequence from 58.06 is intact: the post-midterm short-covering bounce off the 48.60 year low cleared the fib 61.8 at 52.31 but stalled at the 53.45 bounce high, just under the old 53.0-54.6 consolidation floor, as USD and yields firmed on strong claims data. Price is chopping between the 51.58 pullback low and 53.45, with EMA20 converging on EMA50 from below. ATR(14) is elevated near 1,000 pips, so this is an expanding-volatility regime rather than compression.
Support: 52.31, 51.58, 48.60
Resistance: 53.45, 54.60
What it said to watch
H4 close above the 53.45 bounce high puts price back inside the old range and challenges the lower-high sequence, with the 54.60 lower high next
Failure to hold the fib 61.8 at 52.31 and then the 51.58 pullback low reopens the 48.60 year low
US NFP Fri 13:30 UTC (f/c 65K) and average hourly earnings could materially shift this read
Fed's Williams Fri 09:30 UTC on December hike odds
Double bottom off 48.60, lower high capped at 53.45.
The three-week decline from 58.06 printed a double bottom at 48.85/48.60. The post-midterm USD sell-off then drove a breakout through the 51.26 neckline, with price holding the 52.20 range shelf since. The rebound has retraced past the 61.8% of the 54.60–48.60 leg, but the week high at 53.45 sits below the late-October lower high at 54.60, so the lower-highs line still caps the move. EMA20 is still below EMA50 though both are converging under price, and ATR(14) near 865 pips shows volatility still expanded after the squeeze.
Support: 52.20, 51.26, 48.60
Resistance: 53.45, 54.60, 55.00
What it said to watch
H4 close above the 53.45 week high breaks the lower-highs line and exposes the 54.60 lower high and the 55.00 round number
Loss of the 52.20 range shelf turns focus back to the 51.26 neckline and the 61.8% retracement giving way
A move back below the 51.26 neckline would undercut the double bottom read and reopen the 48.60 one-yr low
EMA20 crossing above EMA50 would confirm the swing turn from the downtrend
US NFP Fri 13:30 UTC (f/c 65K) after strong ADP/JOLTS/claims could materially shift this read; Fed's Williams speaks earlier at 09:30 UTC
Base at 48.60-48.95 broke above 51.26 neckline; first higher high, now pulling back.
After the slide from 58.00 and a breakdown from the 53.30-54.60 range, silver carved a triple bottom near the 48.60 year low and broke the 51.26 neckline on the post-midterm USD and yield slump. The rebound printed a swing high at 53.45, where it met supply at the channel ceiling, and price is now easing back toward the 52.00 breakout area. ATR(14) has expanded to around 900 pips, and EMA20 is converging on EMA50 from below, so no cross has confirmed yet.
Support: 52.00, 51.26, 48.60
Resistance: 53.45, 54.60
What it said to watch
H4 close above the 53.45 swing high reopens the 54.60 range top
Loss of 52.00 breakout support exposes the 38.2% rebound fib at 51.60 and the 51.26 neckline
A break back below the 51.26 neckline negates the triple bottom and refocuses the 48.60 year low
Friday NFP (f/c 65K) and AHE, plus today's jobless claims, could materially shift this read
Double bottom at 48.60–48.95 broke its 51.26 neckline; price now pressing the 53.50 channel top.
The late-October slide from 54.60 to a one-year low near 48.60 has turned into a double bottom. The Democratic sweep and a softer dollar drove the 51.26 neckline break and a run through the descending lower-high line. Price has stalled just under the 53.50 channel top, between the 61.8% and 78.6% retracement of the 54.60–48.60 leg. ATR(14) near 900 pips shows an expanded volatility regime, and EMA(20) has not yet crossed above EMA(50).
Support: 51.26, 48.60
Resistance: 53.50, 54.60
What it said to watch
NFP Fri 13:30 UTC (f/c 65K) and AHE could decide whether the 53.50 channel top caps or gives way
H4 acceptance above 53.50 opens the 54.60 range top, the base of the late-October consolidation
A slip back below the 52 handle would leave the rebound as a retracement inside the downtrend
Loss of the 51.26 neckline undoes the double bottom and puts the year low back in focus
EMA(20) crossing above EMA(50) would confirm a swing-level shift; no cross yet
Lower highs from 58.59 broken; double bottom at 48.85/48.60 triggered.
Three weeks of lower highs from 58.59 bottomed in a double bottom at 48.85/48.60, just above the year low. The Democratic midterm sweep and a weaker USD drove a 2.6-dollar H4 bar through the 51.26 neckline and the lower-high trendline, lifting price back above both EMAs. Price is now pausing at the 61.8% retracement of the 54.61 swing high to 48.60 decline, just under the 52.70 prior lows, with ATR(14) expanded to roughly 860 pips.
Support: 51.26, 50.00, 48.60
Resistance: 52.70, 53.50, 54.605
What it said to watch
H4 close back below the 51.26 neckline would negate the double bottom breakout and put 50.00 psych back in play
Acceptance above 52.70 prior lows leaves the 53.50 channel top as the next test; a close above it would break the multi-week downtrend structure toward the 54.61 swing high
Fri 13:30 UTC NFP (f/c 65K) and AHE (f/c 0.3% m/m) could materially shift this read, with Thu jobless claims and Fed's Hammack as earlier catalysts
A failed rally that rolls over below 50.00 psych reopens the 48.60 year low