21:09 UTC
Downtrend since late-August peak, compressing near lows · RSI 42 · price 60.928
LH/LL chain from 71.17; six-session base 59.68–62.07.
Silver has printed lower highs at 68.31 and 67.53 and lower lows at 63.30, 62.30 and 59.68 since the 71.17 peak on Aug 28. Price is capped beneath a lower-high trendline and both EMAs. The Sep 28 bar broke the 62.30 swing low, and price has since compressed between the 59.68 2m low and the 62.07 range top for six sessions. Demand defended the 60.00 area on Friday after soft US payrolls, but 10-year yields at 2002 highs and a firm USD have kept rebounds shallow, with RSI holding in the low 40s and no oversold reading.
Support: 59.676, 56.557, 54.756
Resistance: 62.07, 64.07, 67.529
What it said to watch
- Daily close below the 59.68 2m low extends the LL chain and exposes the 56.56 swing low, then the 54.76 ytd low
- Daily close above the 62.07 range top lifts focus to the 64.07 fib 38.2% of the Aug–Oct decline
- Only a reclaim of the 67.53 lower high and the lower-high trendline breaks the downtrend structure
- FOMC Minutes Wed 07 Oct 18:00 UTC could materially shift this read via yields and the USD