21:05 UTC
Downtrend, corrective bounce · RSI 44 · price 68.041
Lower highs/lower lows, rebounding off YTD low.
Silver has been in a multi-month downtrend off the late-February peak near 96, carving lower highs and lower lows. Price flushed through the 200-day SMA midweek to a YTD low of 61.50 as in-line-but-hot CPI cemented hawkish-Fed pricing, then snapped roughly +6% higher on US-Iran de-escalation hopes and is now retesting the 200-day SMA around 67.25. The bounce remains shallow, capping well below the 69.00 overhead area and inside the broader descending structure.
Support: 67.25, 63.40, 61.50
Resistance: 69.00
What it said to watch
- Daily close back below 67.25 (200-day sma) reopens 63.40 then the 61.50 ytd low
- Sustained close above 69.00 challenges the dominant downtrend
- High-impact FOMC dot plot Jun 17 could materially shift this read