Every read JAFX AI made on the XAG/USD 4-hour chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:06 UTC
Downtrend, corrective bounce · RSI 55 · price 59.849
Lower highs since $71, bouncing off weekly low.
Silver remains in a descending channel, printing lower highs since the $71 collapse, but has bounced off the $57.21 weekly low and is now probing the $60 psychological cap. Price reclaimed EMA20 and EMA50 on the recovery, though the broader structure is still bearish while the channel top holds. Move fits the digest's 'bruised, dip-demand' read into Tuesday's US CPI.
Support: 57.21, 55.63
Resistance: 60.99
What it said to watch
- H4 close below 57.21 weekly low reopens 55.63 channel target
- Sustained break above 60.99 swing high needed to challenge the channel top
- US CPI Tue 12:30 UTC is the dominant catalyst and could reshape this read
21:06 UTC
Downtrend easing, basing off lows · RSI 53 · price 59.849
Higher lows off 57.22 within a broader descending channel.
Silver crashed from ~71 to a 55.63 low mid-window before demand stepped in around 57.22, carving a series of higher lows back toward 60. Price is now consolidating in a 58.05-60.70 band, holding above both EMAs after the recovery, though the broader structure remains a descending channel off the June highs. ATR remains elevated, keeping this a wide, headline-sensitive band.
Support: 58.05, 57.22, 55.63
Resistance: 60.70, 62.20
What it said to watch
- US CPI Tue Jul 14 12:30 UTC is the dominant catalyst and could reset this read
- Close below 57.22 confirms a lower low and exposes 55.63
- Close above 60.70 opens the path toward the 62.20 swing high