XAG/USD AI Live Scan, 1-hour chart, Thursday, 5 November 2026
Every read JAFX AI made on the XAG/USD 1-hour chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
23:04 UTC
Post-impulse pullback, momentum rolling over · RSI 42 · price 51.797
Lower highs below the 53.45 week high; 51.57–53.45 range since Thursday.
Silver opened the week at 49.33 and made a week low of 48.60 in Tuesday's London session. The Democratic midterm sweep then sank the USD and yields, and silver surged in Wednesday's Asia session. That move ran to a 53.45 week high early Thursday before a rejection under the 53.50 cap. Since then the USD recovery has produced lower highs at 53.12 and 52.99 during NY hours, and Thursday's NY low at 51.57 sits just under the 38.2% retracement of the Wednesday impulse. Price is back below the ema20 at 52.40 and just under the EMA(50) near 51.92, with RSI(14) at 42 well off Thursday's overbought readings.
Support: 51.57, 51.20, 50.00
Resistance: 52.40, 53.12, 53.45
What it said to watch
Friday's NFP at 13:30 UTC (f/c 65K) and AHE could break the 51.57–53.45 range in either direction; Williams speaks at 09:30 UTC
An H1 close below the 51.57 ny low extends the pullback toward the fib 50% at 51.20, with the 50.00 round number below
Recovery above the 52.40 ema20 and the 53.12 lower high would negate the lower-highs sequence
An H1 close above the 53.45 week high clears the rejection zone and the downtrend line
Lower highs since Thursday's 53.45 peak; Thursday swing range 51.57–53.12.
Wednesday's Asia-session surge off 48.95 came as the Democratic midterm sweep sank USD and yields. It ran to a 53.45 week high early Thursday, then stalled as the dollar recovered on firm claims data. Since then H1 has printed lower highs at 53.12 and 52.99, with Thursday's NY session swinging from 53.12 to a 51.57 Thu low and back. Price now sits below EMA(20) at 52.41, under the 52.00 pivot and just below EMA(50) near 51.90, testing the fib 38.2 of Wednesday's surge at 51.73 with RSI(14) near 42.
Support: 51.73, 51.574, 51.20
Resistance: 52.00, 52.41, 53.453
What it said to watch
Hourly close below the 51.57 Thu low confirms a lower-low and exposes the fib 50 at 51.20
Recovery above the 52.00 pivot and EMA(20) at 52.41 would neutralise the lower highs sequence
Close above the 53.45 week high breaks Thursday's rejection structure
Williams (09:30 UTC) and NFP (13:30 UTC Fri, f/c 65K) could materially shift this read
Two lower highs since Thursday's peak; pullback holding the 38.2% of the week's rally.
Silver rallied off Tuesday's 48.60 low. Wednesday's 48.95 marked a higher low, and most of the climb came in Wednesday's Asia session as the midterm result sank the USD and yields, carrying price to a 53.45 week high early Thursday. Since then, lower highs at 53.45 and 53.12 and a NY-session whipsaw around Thursday's US data have left price below EMA(20) at 52.37 and sitting on EMA(50) near 51.87. RSI(14) has eased to 45 from 77 at the week high, and the 51.57 Thursday low aligns with the 38.2% retracement of the week's rally.
Support: 51.87, 51.57, 51.03
Resistance: 52.37, 53.12, 53.45
What it said to watch
H1 close below the 51.57 Thursday low breaks the 38.2% retracement and exposes the 51.03 50% fib
Recovery above EMA(20) and the 53.12 lower high reopens the 53.45 week high; a close above it ends the lower-high sequence
Friday's NFP at 13:30 UTC (f/c 65K) and Williams at 09:30 UTC could materially shift this read
20:05 UTC
Uptrend from Wednesday low, stalling below week high · RSI 48 · price 52.457
Consolidation 51.57–53.45 after Wednesday impulse; higher low held.
The election-driven Wednesday impulse from 48.95 carried into Thursday's Asia session and reached the week high at 53.45, where it met rejection as USD and yields recovered. Thursday's NY session swing broke below the 52.00 round number and reached a NY low of 51.57, just past the 38.2% retracement near 51.73 and above the Monday high at 51.26. The move was reclaimed within the hour, a false break that leaves price flat on EMA(20) near 52.46 with RSI(14) back near 48. Structure is consolidation between the NY low and the week high, with the NY high at 53.12 capping the upper half of the range.
Support: 52.00, 51.574, 51.26
Resistance: 53.122, 53.453
What it said to watch
H1 close above the 53.45 week high breaks the consolidation and the digest's $53.50 downtrend cap
Loss of the 52.00 round number and the 51.57 ny low exposes the monday high at 51.26 and the 50% retracement near 51.20
Rejection again at the 53.12 ny high keeps the range intact below the week high
NFP Fri 13:30 UTC (f/c 65K) after hot ADP/JOLTS/claims; Fed's Williams at 09:30 UTC could shift the read first
Lower highs below 53.45 after Wednesday impulse; 51.58–53.45 consolidation.
Silver broke out of the Monday–Tuesday 48.60–50.55 prior range in Wednesday's Asia-to-London transition as the midterm-driven USD and yield slide forced short-covering. That impulse topped at a 53.45 week high in Thursday's Asia session, and price has since printed a lower high at 53.12 and another at 52.99 as the USD firmed on the 189K claims print. The NY-session flush to 51.57 tagged Wednesday's swing low just under the 38.2% fib of the Wednesday impulse and recovered above 52.00 psych, leaving price below ema20 near 52.58 but above EMA(50), with RSI(14) back near 49 from overbought.
Support: 52.00, 51.58, 50.55
Resistance: 52.58, 53.12, 53.45
What it said to watch
H1 close below the 51.58 swing low breaks the consolidation and exposes the 50.55 prior range top
Repeated closes under 52.00 psych keep the lower-highs sequence in control
Reclaim of ema20 and a close above the 53.12 lower high would challenge the 53.45 week high
Fed's Williams (Fri 09:30 UTC) and NFP (Fri 13:30 UTC, f/c 65K) with AHE could materially shift this read
Consolidation below 53.45 week high, lower high at 53.12.
Silver ran from Tuesday's 48.60 week low to a 53.45 week high in Thursday's Asia session. Most of the move came in Wednesday's near-vertical leg as the Democratic midterm sweep hit the USD and yields. Since then price has consolidated beneath a lower high at 53.12, and Thursday's NY-session false break under the 52.00 psych level tagged 51.57 (thu ny low), near the 38.2% retrace of the rally, before recovering. Price now sits just below EMA(20) near 52.55 but well above EMA(50), with RSI(14) cooled to ~47 as the USD rebound on 189K claims caps the bounce.
Support: 52.00, 51.574
Resistance: 52.55, 53.122, 53.453
What it said to watch
An H1 close above the 53.12 lower high and 53.45 week high breaks the lower-highs trendline
Failure to hold the thu ny low at 51.57 exposes the 50% retrace near 51.20
Repeated H1 closes below the 52.00 psych level would mark the rebound as fading
US NFP, AHE and unemployment Fri 13:30 UTC (f/c 65K) could materially shift this read
Fed's Williams Fri 09:30 UTC on December hike odds
Lower highs since Thursday's Asia peak; false break under 52.37 reclaimed.
The week's dominant move was a single leg. Silver ran from 48.95 in Wednesday's Asia session into London as the Democratic midterm sweep hit the USD, and carried to a 53.45 week high in Thursday's Asia session. Since then highs have stepped lower, with a 53.12 lower high into the NY open. The USD and yields recovered after the claims beat, driving a NY-session drop through the 52.37 swing low to a 51.57 day low, just under the 38.2% retracement, before a one-bar reclaim back above the ema20 near 52.50. RSI(14) has cooled from about 78 at the peak to 55, and price holds above both the ema20 and the ema50 (about 51.85).
Support: 52.50, 52.374, 51.574
Resistance: 53.122, 53.453
What it said to watch
H1 close above the 53.12 lower high and then the 53.45 week high would break the lower-highs sequence and clear the 53.50 channel top
Repeated H1 closes back below the 52.37 swing low and the 51.57 day low would turn the dip into a failed hold of the 38.2% retracement, exposing the 50% level near 51.20
Holding the ema20 around 52.50 on pullbacks keeps the post-Wednesday uptrend structure intact
Fed's Williams (Fri 09:30 UTC) and NFP/AHE (Fri 13:30 UTC, f/c 65K / 0.3%) could materially shift this read
Lower high at 53.12 under 53.45 week high; Thursday range floor broken.
Silver's vertical late-Asia rally on Wednesday, triggered when the Democratic midterm sweep sank the USD, ran from 48.95 to a 53.45 week high early Thursday. That high has since capped price, with a lower high at 53.12. Into the NY session the USD recovered after the jobless-claims beat and broke Thursday's 52.37–52.44 range floor. The drop has carried price below EMA(20) near 52.44 and onto EMA(50) around 51.80. Price now sits at the 38.2% fib of the week's impulse (51.73), just above the Wed shelf at 51.59, with RSI(14) down to ~39.
Support: 51.59, 51.20, 50.55
Resistance: 52.40, 53.12, 53.45
What it said to watch
US NFP, AHE and unemployment Fri 13:30 UTC (f/c 65K), with Fed's Williams at 09:30 UTC, could materially shift this read
H1 close back above the 52.40 range floor would turn the NY break into a false break
Failure to hold the 51.59 Wed shelf and 38.2% fib exposes the 50% fib at 51.20 and Tuesday's high at 50.55
Break above the 53.12 lower high and 53.45 week high would negate the lower-highs read
Silver has recovered from Tuesday's 48.60 week low, the dominant leg being Wednesday's NY-session impulse from 48.95 as the midterm result knocked USD and yields, topping at the 53.45 week high in Thursday's Asia session. Since then price has rotated in a 52.37–53.12 band, and the dip to a 51.92 spike low around the US claims and productivity data was only partly reclaimed. Price now sits below EMA(20) near 52.64 under a lower high at 53.12, with RSI(14) back in the mid-40s, while EMA(50) and the fib 38.2 at 51.73 sit untested below.
Support: 51.921, 51.731, 51.20
Resistance: 52.64, 53.122, 53.453
What it said to watch
H1 close below the 51.92 spike low exposes the fib 38.2 at 51.73 and the fib 50 near 51.20
Recovery above EMA(20) at 52.64 and through the 53.12 lower high negates the lower-highs read
Acceptance above the 53.45 week high would extend Wednesday's impulse
NFP, AHE and unemployment Fri 13:30 UTC could materially shift this read; Williams speaks at 09:30 UTC
Silver reversed the week's early slide from Tuesday's London-session low near 48.60. Wednesday's impulse began in the Asia session as the USD sold off post-midterms and ran to a week high of 53.45 in Thursday's Asian hours, with RSI(14) peaking near 80. Since then price has compressed into a 52.37–53.03 band of lower highs, the thu low sitting on the 23.6% retracement. It is still holding above ema20 near 52.55 as firm US claims data gave the dollar a footing and RSI cooled to ~60.
Support: 52.55, 52.37, 51.73
Resistance: 53.03, 53.45
What it said to watch
H1 close below the thu low at 52.37 breaks the consolidation floor and exposes the fib 38.2 at 51.73
Sustained closes under ema20 (~52.55) would mark the first loss of the rally's dynamic support this week
Acceptance above the 53.03 lower high, then the 53.45 week high, would end the pullback read and resume Wednesday's impulse
NFP Fri 13:30 UTC (f/c 65K), with Fed's Williams at 09:30 UTC, could materially shift this read
Higher lows from Tuesday's 48.60 low, now a tight range under 53.45.
Wednesday's midterm surge in the Asia session, helped by a softer USD and falling oil, carried silver from 48.95 to the 53.45 week high early Thursday. That leg capped a rebound of almost 10% off Tuesday's 48.60 London low. After the rejection under 53.50, price has compressed into a 52.37–52.96 consolidation with lower highs through London. It is holding just above EMA(20) at 52.49 and the 23.6% retracement of Wednesday's impulse, while RSI(14) has cooled to ~55 from above 75.
Support: 52.49, 52.37, 52.00
Resistance: 52.96, 53.45
What it said to watch
H1 close below the 52.37 thu low breaks the consolidation floor and exposes the 52.00 round number, with the 38.2% of Wednesday's impulse near 51.73 below
H1 close above the 52.96 lower high clears the descending line of lower highs from 53.45 and reopens the week high
Acceptance above the 53.45 week high and the 53.50 cap extends the rebound structure
US jobless claims and unit labour costs at 13:30 UTC, followed by Fed's Hammack at 13:50 UTC, could materially shift this read; NFP follows Friday 13:30 UTC
12:04 UTC
Uptrend, stalling below the week high · RSI 58 · price 52.762
Higher lows since Wednesday; tight 52.37–52.96 range under a rejected 53.45 high.
Silver held a 48.60 week low into Tuesday's London session. The Democratic sweep and a softer USD then drove a ~$2.9 surge out of the Wednesday Asia session, and it ground on to a 53.45 week high in early Thursday Asia trade, just shy of the 53.50 channel top. Rejection there sent price back to the 52.37 Thursday low, almost exactly the 23.6% fib of the 48.95–53.45 impulse. Since then it has compressed between that low and a 52.96 range top through London hours, with candles hugging the ema20 and RSI(14) easing to the high 50s.
Support: 52.65, 52.374, 51.73
Resistance: 52.963, 53.453, 53.50
What it said to watch
H1 acceptance above the 53.45 week high and 53.50 channel top would break the cap that rejected Thursday's Asia rally
Failure to hold the 52.37 Thu low breaks the higher-lows trendline and opens the 38.2% fib near 51.73
Repeated H1 closes below the ema20 (~52.65) would turn the range into a pullback
Jobless Claims at 13:30 UTC and Fed's Hammack at 13:50 UTC could resolve the 52.37–52.96 range ahead of Friday's NFP (f/c 65K)
Breakout from 48.60–51.26 range, higher lows, compressing under 53.45.
From Monday's 49.33 open, silver held a 48.60–51.26 range into Tuesday. Wednesday's Asia-session breakout ran off 48.95 as the post-midterm USD sell-off and lower oil hit, and it extended to a 53.45 week high in Thursday's Asia session, just under the 53.50 channel top, where it met rejection. The pullback held the 52.37 Thursday low near the 23.6% fib and stayed on rising support. Since then London has compressed 52.44–52.89 above EMA20, with RSI(14) easing to ~60 and the 53.00 round number capping.
Support: 52.374, 51.73
Resistance: 53.00, 53.453
What it said to watch
H1 close above the 53.45 week high and 53.50 channel top would extend the breakout toward 55.00
Repeated failure at the 53.00 round number keeps the London compression intact
Loss of rising support near 52.58 and the 52.37 thursday low breaks the higher-low sequence and exposes the 38.2% fib at 51.73
Jobless Claims at 13:30 UTC and Fed's Hammack at 13:50 UTC today, then Friday's NFP (f/c 65K), could materially shift this read
Higher lows since Wednesday's reversal, capped at 53.45.
After Monday's open at 49.33 and Tuesday's London flush to the 48.60 week low, silver reversed sharply from late Asia into Wednesday's London open as the Democratic sweep and an oil slump knocked the USD and yields lower. The week rally extended to a 53.45 week high in Thursday's Asia session, just under the 53.50 channel top cited in the market digest, then met rejection in London as the DXY bounced. Price is holding just above EMA(20) on the higher lows line, with today's London low at 52.37 the first test and RSI(14) back near 59 from overbought.
Support: 52.374, 52.00, 51.588
Resistance: 53.453
What it said to watch
H1 close above the 53.45 week high and the 53.50 channel top extends the week rally
Failure to hold the 52.37 london low breaks the higher lows line and exposes the 52.00 round number
Loss of the 51.59 swing low, near the 38.2% of the week rally, signals the rebound is fading
Initial Jobless Claims and Unit Labor Costs at 13:30 UTC, plus Hammack at 13:50 UTC, could materially shift this read
Friday's NFP (f/c 65K) and AHE at 13:30 UTC is the high-impact risk for the 52.00–53.50 band
Post-breakout higher lows; shallow pullback held near the 23.6% retracement.
Silver opened the week at 49.33 and spent Monday–Tuesday under a downtrend line of lower highs from Monday's 51.26 ISM spike, printing the week low at 48.60 in Tuesday's London session. The post-midterm USD slide fuelled a London-open breakout on Wednesday from 48.95. That impulse extended to a 53.45 week high in Thursday's Asia session before a rejection in early European trade, as the dollar steadied, knocked price back to the 52.37 thu low, roughly a 23.6% retracement. Price has since reclaimed the ema20 near 52.60 with RSI(14) cooling to ~61, and the 53.00 psych level is the first cap below the week high.
Support: 52.60, 52.37, 51.73
Resistance: 53.00, 53.45
What it said to watch
Hourly close below the 52.37 thu low breaks the rising support line and opens the 38.2% fib at 51.73
Repeated hourly closes below the ema20 at 52.60 would signal the pullback is deepening
Acceptance above the 53.45 week high clears the channel top flagged near 53.50
Jobless Claims and Fed's Hammack at 13:30–13:50 UTC today, then Friday's NFP (f/c 65K), could materially shift this read
Higher lows since Wednesday's breakout; pullback from week high.
Silver opened the week at 49.33 and printed the week low at 48.60 in Tuesday's London session. A second test near 48.95 early Wednesday held, and price broke out in Asia on the Democratic sweep and a softer USD, clearing Monday's high at 51.26. The move extended to a week high of 53.45 in Thursday's Asian session, just short of the 53.50 channel top, where it was rejected and slipped to a Thu low of 52.37, almost exactly the 23.6% fib of the 48.95–53.45 leg. Price sits marginally above EMA(20) near 52.47, with RSI(14) cooled to the mid-50s after Wednesday's overbought run, and the higher lows line from Wednesday remains intact.
Support: 52.374, 52.00, 51.26
Resistance: 53.453, 55.00
What it said to watch
An H1 close above the 53.45 week high and the 53.50 channel top opens the path to psych 55.00
A break of the higher lows line and the 52.37 Thu low exposes the 52.00 round number, then the Mon high at 51.26 near the 50% fib
Jobless Claims and Unit Labor Costs at 13:30 UTC, then Fed's Hammack at 13:50 UTC, could materially shift this read
NFP and AHE on Friday at 13:30 UTC are the main risk to the breakout structure
Higher lows since Tuesday's 48.60 low; first pullback holding the 23.6% fib.
Silver put in a higher low at 48.95 early Wednesday, above Tuesday's 48.60 week low. It then broke Monday's 51.26 high in the Asia-to-London open surge and printed a 53.45 week high in Thursday's Asia session. The Democratic midterm sweep, a softer USD and lower oil drove the impulse. Rejection just under the 53.50 channel top sent price to a 52.37 Thursday low near the 23.6% retracement, where demand stepped in; price still sits above EMA(20) and the rising-lows trendline, with RSI(14) cooling to ~62.
Support: 52.37, 52.00, 51.73
Resistance: 53.45, 53.50
What it said to watch
An H1 close below the 52.37 thu low and the rising-lows trendline (~52.47) would break the sequence of higher lows, exposing the 52.00 round number and the fib 38.2 at 51.73
Acceptance above the 53.45 week high and 53.50 channel top would extend the impulse and put 55.00 in view
Initial Jobless Claims at 13:30 UTC and Fed's Hammack at 13:50 UTC today could shift this read
Friday's NFP at 13:30 UTC (f/c 65K, AHE 0.3% m/m) is the main test of the channel top
Silver has reversed the week's slide from Tuesday's 48.60 low. Wednesday's Asia-to-London impulse off 48.95 came on the Democratic sweep and a softer USD, carried price through 52.00 and ran into a 53.45 week high early Thursday. Price has since slipped back to the 23.6% fib of that leg at 52.37, with EMA(20) near 52.28 and rising support from Wednesday's post-impulse lows just beneath, while lower highs at 53.20 and 53.08 mark a rejection below the 53.50 channel top as RSI(14) cools to ~61.
Support: 52.37, 52.00, 51.73
Resistance: 53.20, 53.45
What it said to watch
Hourly close below the 52.37 fib 23.6 and rising support exposes the 52.00 round number, then the fib 38.2 at 51.73
Acceptance above the 53.45 week high and the 53.50 channel top would break the lower-high sequence from Thursday's peak
Thu 13:30 UTC jobless claims (f/c 196K) and Hammack, then Fri 13:30 UTC NFP (f/c 65K) could materially shift this read
05:04 UTC
Uptrend, impulsive but stalling at week high · RSI 77 · price 53.032
Higher low at 48.95 after the week's 48.60 low, break above Monday's 51.26 high, new high 53.45.
Silver put in a higher low at 48.95 early Wednesday, after Tuesday's 48.60 week low, then launched an impulse in the London session as the Democratic sweep weighed on the USD, yields and oil. Asia extended the leg this morning to a 53.45 week high just under the 53.50 channel top. Price sits well above EMA(20) near 52.29, with Wednesday's 52.44 prior high and a rising trendline now underneath, while RSI(14) is overbought near 77 as momentum flattens.
Support: 52.44, 52.29, 51.73
Resistance: 53.453, 55.00
What it said to watch
H1 close above the 53.45 week high and 53.50 channel top opens the path toward the 55.00 round number
A break of the rising trendline and the 52.44 prior high puts EMA(20) and the 51.73 fib 38.2 of the impulse in focus
A new high above 53.45 without a higher RSI(14) reading would mark bearish divergence
Initial Jobless Claims and Fed's Hammack (Thu 13:30–13:50 UTC), then NFP and AHE (Fri 13:30 UTC), could materially shift this read
04:03 UTC
Uptrend, extended into week high · RSI 76 · price 53.13
Higher highs and higher lows since Wednesday's 48.95 low, breakout above the 52.44 prior high.
Monday's and Tuesday's NY-session spikes faded from the 49.33 weekly open, and Tuesday's London session printed a lower low at 48.60. The Democratic midterm sweep and the broad USD selloff then drove a Wednesday Asia-session surge that cleared EMA(20) and the 51.26 monday high. London and NY held a 51.60–52.44 range above EMA(20), and Thursday's Asian session broke the 52.44 prior high to a 53.45 week high. RSI(14) near 76 is overbought, and price is stalling just under the 53.50 channel top flagged as the downtrend boundary.
Support: 52.44, 52.24, 51.26
Resistance: 53.45, 53.50, 55.00
What it said to watch
H1 acceptance above the 53.45 week high and 53.50 channel top would mark the first structural break and opens the path to the 55.00 round number
A slip back below the 52.44 prior high returns price to Wednesday's range, with ema20 near 52.24 and the higher-lows trendline the next tests
Loss of the 51.73 fib 38.2% and the 51.26 monday high would retrace half the midterm leg
Thu 13:30 UTC jobless claims and unit labor costs, Hammack at 13:50 UTC, and Fri NFP at 13:30 UTC could materially shift this read
03:03 UTC
Uptrend, stretched into resistance · RSI 76 · price 53.119
Higher low at 48.95 then impulse breakout above Monday's 51.26 high.
After Monday's NY-session pop to 51.26 faded into Tuesday's London low at 48.60, Wednesday's Asia low at 48.95 printed a higher low and set up a double bottom. The Democratic midterm sweep and softer USD then drove the Wednesday impulse through the 51.26 neckline. Price is holding above EMA(20), with the prior high at 52.44 acting as the pullback floor. The Asia session today extended to a 53.45 session high, just shy of the 53.50 channel top, with RSI(14) overbought in the mid-70s.
Support: 52.44, 52.00, 51.73
Resistance: 53.45, 53.50
What it said to watch
Hourly acceptance above the 53.50 channel top would mark the first structural break of the downtrend channel
Failure to hold the 52.44 prior high and the 52.00 round number would signal the squeeze is exhausting
A deeper pullback toward the fib 38.2% at 51.73 would test the Wednesday impulse
Thu 13:30 UTC Jobless Claims/ULC and Fed's Hammack at 13:50 UTC could shift the read ahead of Friday's NFP
A break of the higher lows trendline would return 49.00 and the 48.60 lows to view
Double bottom at 48.60/48.95 broken higher; higher lows since Wednesday.
From the 49.33 weekly open, Monday's bounce stalled at the 51.26 monday high. Tuesday's London-session selloff set the week low at 48.60, and Wednesday's Asia dip to 48.95 completed a double bottom. The Democratic midterm sweep then weighed on the USD and drove a vertical reversal through the monday high, with price holding a series of higher lows above the wed high at 52.44 into the close. Thursday's Asia session extended to a 53.383 session high just under the 53.50 channel top. RSI(14) is near 78 and price sits about 1.00 above EMA(20) at 52.00, with the 23.6% retracement of the Wednesday rally near 52.34.
Support: 52.444, 52.00, 51.26
Resistance: 53.383, 53.50
What it said to watch
Hourly close above the 53.50 channel top would mark a break of the broader downtrend structure
Slip back below the wed high at 52.44 and the higher-lows line would expose EMA(20) near 52.00
Loss of the monday high at 51.26, near the 38.2%-50% zone of the Wednesday rally, would undercut the breakout read
Thu 13:30 UTC jobless claims and Fed's Hammack, then Fri 13:30 UTC NFP (f/c 65K), could materially shift this read
01:03 UTC
Uptrend, extending into Thursday Asia · RSI 71 · price 52.755
V-reversal off 48.95 low; higher lows since Wednesday NY.
Silver reversed vertically from 48.95 in Wednesday's Asian session as the Democratic midterm sweep hit the USD and yields. The rally carried through 52.00 by London and printed a 52.44 prior high in NY, with pullbacks to 51.62 holding above the rising lows line. Thursday's Asia session has broken above 52.44 to a 52.82 session high, with RSI(14) back near 70 and price riding above ema20 near 52.15.
Support: 52.44, 52.15, 51.62
Resistance: 52.82, 53.00, 53.50
What it said to watch
H1 close back below the 52.44 prior high would mark the Asia push as a false break
Loss of the rising lows line and ema20 near 52.15 opens a deeper retracement of the Wednesday rally toward the 51.62 pullback low
52.82 session high, then the 53.00 round number, are the next tests; an H1 close above the 53.50 channel top breaks the descending structure
Thu 13:30 UTC jobless claims and Hammack, then Fri NFP and AHE, could materially shift this read
Vertical breakout through Monday high, now a tight consolidation beneath the 52.444 week high.
Silver set a higher low at 48.95 in Wednesday's Asia session, above Tuesday's 48.60 week low, then reversed vertically as the Democratic midterm sweep hit the USD and yields. The Wednesday impulse cleared the 51.26 Monday high and the 49.33 weekly open, then printed a 52.444 week high into NY hours. Since then price has compressed between the 51.62 range low and the week high, holding above EMA(20) near 51.95, with RSI(14) cooling to the mid-60s while mixed US data failed to dent the move.
Support: 51.95, 51.623, 51.26
Resistance: 52.444, 53.00, 53.50
What it said to watch
H1 close above the 52.444 week high opens the 53.00 round number and the 53.50 channel top flagged as the downtrend cap
Sustained trade below EMA(20) near 51.95 would turn the consolidation into a retrace toward the 51.62 range low, which sits at the 23.6% of the Wednesday impulse
Failure to hold 51.62 exposes the 51.26 Monday high and the 38.2% retracement near 51.11
Thu 13:30 UTC jobless claims and Fed's Hammack, then Fri NFP (f/c 65K) and AHE, could materially shift this read