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.
21:05 UTC
Downtrend, basing at the lows · RSI 42 · price 58.934
Lower highs / lower lows, now ranging.
Silver is in a confirmed multi-month downtrend, having shed over 30% from the May peak near 89.36 and trading well below EMA(50) inside a descending channel. Price has spent the last two weeks basing in a 57.2–63 range and now sits at 58.93 into tomorrow's US CPI. Bounces toward the 60 round-number and EMA20 have repeatedly faded, consistent with the hawkish-Fed backdrop capping every relief attempt.
Support: 57.22, 55.63
Resistance: 62.88
What it said to watch
- US CPI Tue 12:30 UTC is the dominant catalyst and could reset this read
- Daily close below 57.22 channel support opens the path to 55.63
- Daily close back above 62.88 would break the sequence of lower highs
21:05 UTC
Downtrend, momentum easing · RSI 42 · price 58.934
Lower highs, lower lows within descending channel.
Silver has been in a confirmed downtrend since early March, sliding from ~90 to sub-59 (-17% YTD) inside a descending channel, with price capped well below EMA20 and EMA50. The last ten sessions have consolidated in a 57-62 band; RSI at 42 reflects a stalled, not reversing, market as the hawkish-Fed/energy-inflation narrative fades every bounce. Rebounds toward the 9-day EMA near 59.80 have repeatedly failed.
Support: 57.22, 55.63, 54.39
Resistance: 59.80, 63.25
What it said to watch
- US CPI Tue 12:30 UTC is the dominant catalyst for this read
- Break of 57.22 opens 55.63 then the 54.39 ytd low
- Daily close above 63.25 swing high would break the channel and the lower-high sequence