09:20 UTC
Recovery from late-Feb capitulation, regaining ground · RSI 56 · price 80.343
Wide range above 65-70 base, reclaiming mid-range.
Silver is recovering from the violent late-January capitulation that wicked from 121 down to 65, with the last four months carving a wide rounded bottom between 65 and 96. The recent week saw a clean push back above the EMA20 and through prior consolidation, closing at 80.34 after tagging an 82.11 weekly high on USD weakness. Price now sits mid-range with EMA50 still overhead near 84, the next structural test.
Support: 77.30, 72.70
Resistance: 82.11, 89.00
What it said to watch
- Daily close above 82.11 weekly high opens path toward the 89.00 apr pivot
- Loss of 77.30 ema20 puts the 72.70 swing low back in focus
- US CPI next week could materially shift the USD-driven leg