XAG/USD AI Live Scan, daily chart, Sunday, 12 July 2026
Every read JAFX AI made on the XAG/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:06 UTC
Downtrend, bouncing off lows · RSI 46 · price 59.849
Lower highs / lower lows in a descending channel.
Silver has been in a confirmed downtrend since the ~90 peak in early March, carving lower highs and lower lows inside a descending channel and trading well below EMA(50). The metal printed a weekly low near 57.22 (with a wick to 55.63) before demand stepped in for a bounce toward the 60 psych area, where the last two sessions have stalled. The hawkish-Fed/higher-for-longer backdrop keeps rallies capped ahead of Tuesday's US CPI.
Support: 57.22, 55.63, 54.39
Resistance: 62.88
What it said to watch
US CPI Tue Jul 14 12:30 UTC is the dominant catalyst and could reset this read
Daily close back above 62.88 prior high would challenge the descending channel
Failure to hold the 57.22 weekly low exposes the 55.63 and 54.39 swing lows
Silver has been in a steady downtrend since the early-March top near $90, printing lower highs and lower lows inside a descending channel and holding below a falling EMU(50) on D1. Price bottomed at 55.61 in late June, squeezed back toward $62, then rolled over and is now pinned to the $60 psych level. The bounce reflects dip demand off the channel base against a hawkish-Fed backdrop that keeps rallies capped.
Support: 57.22, 55.63, 54.39
What it said to watch
Daily close below 57.22 weekly low opens 55.63 then 54.39
Reclaim of 60 psych and 62 swing high needed to challenge the 64-65 descending trendline
US CPI Tue Jul 14 12:30 UTC is the dominant catalyst and could reset this read