09:20 UTC
Strong uptrend, near-term pullback in progress · RSI 56 · price 80.343
Higher-highs since Tuesday, rejection from 82.11 weekly high.
Silver has rallied roughly 12% from Monday's 72.49 low through to Thursday's 82.11 weekly high, with the dominant impulse occurring during Tuesday's NY session as USD weakness and softer oil supported the metal. Price rejected the 82.11 weekly high earlier today and is consolidating around 80.34 above EMA20, holding the 79.87 swing low. RSI(14) cooled from overbought into the mid-50s, easing the prior stretched read.
Support: 79.87, 78.50
Resistance: 81.55, 82.11
What it said to watch
- H1 close below the 79.87 swing low would break the higher-low sequence and open the 78.50 prior high
- Reclaim of 81.55 intraday high reopens the 82.11 weekly high test
- US CPI release this week could materially shift the read given USD-driven move