Lower highs and lower lows; bounce off fresh swing low.
Silver has printed successive lower highs from 67.53 and broke the 58.40-58.65 base after Wednesday's hot CPI. The drop ran to a 55.39 swing low and went through the 56.57 aug low. The rebound on softer yields and USD has retraced to the 38.2% crash fib, which sits together with EMA20 near 57.75. Both EMAs remain overhead, and ATR(14) near 830 pips shows volatility still expanded after the breakdown leg.
Support: 56.57, 55.39
Resistance: 57.75, 58.45, 60.00
What it said to watch
H4 close above the 57.75 fib/ema20 zone opens a test of the 58.45 breakdown area and 50% retracement
Failure back below the 56.57 aug low puts the 55.39 swing low back in play; a break extends the lower-low sequence
Warsh speech Fri 03:30 UTC could materially shift yields and this read; Hammack at 20:30 UTC also in focus
Lower-highs trendline near 60.50, alongside 60.00 psych, caps the broader downtrend structure
17:05 UTC
Downtrend, corrective bounce off the low · RSI 38 · price 57.017
Lower highs since 67.53; prior range broken lower, bounce building higher lows.
Silver has printed lower highs since the 67.53 mid-September peak. After two weeks inside a 58.50-62.00 prior range, the hot US CPI print flushed price through the 58.50 breakdown level to a 55.39 swing low. The rebound, helped by softer yields and a heavy USD after the PPI beat failed to extend the sell-off, has built higher lows at 55.70 and 56.29 and is now pressing the 38.2% fib near 57.42. Both EMAs sit overhead with EMA20 below EMA50, and ATR(14) has expanded to roughly 840 pips, so this is a volatile corrective leg inside an intact downtrend.
Support: 56.29, 55.39
Resistance: 57.42, 58.50, 59.35
What it said to watch
Fed Chair Warsh (Fri 03:30 UTC) and Hammack (20:30 UTC) could materially shift this read after the hot CPI/PPI
Rejection at the 38.2% fib near 57.42 would keep the bounce corrective within the downtrend
H4 close back above the 58.50 breakdown level puts price back inside the prior range toward 59.35
Failure to hold the 56.29 higher low exposes the 55.39 swing low again
Lower highs and lower lows since 67.53; tight base above 55.39 after the CPI breakdown.
Silver has printed lower highs and lower lows across the window, from 67.53 down to the 55.385 swing low. The leg lower came after Wednesday's hot US CPI, which drove the drop through the 58.40 prior lows and expanded ATR(14) to roughly 785 pips. Since then, price has formed a shallow flag, with a higher low at 55.70, but the bounce high at 56.86 is stalling just beneath the 23.6% retracement of the post-CPI drop. Both EMAs sit overhead, and the 38.2% fib at 57.70 is the next marker within the descending lower-highs line.
Support: 55.703, 55.385
Resistance: 56.86, 57.70, 58.40
What it said to watch
Reaction to today's hot PPI (6.3% vs 5.3%) is not yet in the closed bars and could decide whether the bounce high at 56.86 holds
H4 close below the higher low at 55.70 and then the 55.385 swing low resumes the lower-low sequence
H4 close above 56.86 brings the fib 38.2 at 57.70 and the 58.40 prior lows into view as the next resistance
Fed's Hammack (20:30 UTC) and Chair Warsh (Fri 03:30 UTC) could materially shift this read via October hike pricing
09:05 UTC
Downtrend, impulse leg extended, minor bounce · RSI 32 · price 56.512
Lower highs from 67.53; multi-week 58.40-61.85 range broken lower.
Lower highs have stepped down from the 67.53 peak, and the hot US CPI beat broke the 58.40 prior floor of the two-week range, driving a flush to a 55.385 swing low. The bounce is now pressing the 56.57 August low as the USD and yields fade, with the fib 38.2 retracement of the 61.43-55.39 leg at 57.70 overhead. ATR(14) has expanded to roughly 770 pips, an expansion regime rather than compression, and both EMAs sit well above price.
Support: 55.385, 55.00
Resistance: 56.57, 57.696, 58.40
What it said to watch
US PPI and Retail Sales in ~3h40m could materially shift this read
Rejection at the 56.57 august low keeps the bounce corrective inside the downtrend
H4 close back above the 58.40 prior floor invalidates the range-break read
Break below the 55.385 swing low extends the lower-low sequence toward the 55.00 round number
Lower highs trendline from 65.08 remains the structural cap on any extended rebound
05:05 UTC
Downtrend, oversold after expansion leg · RSI 25 · price 55.941
Lower highs since 67.53; 58.50 range floor broken.
Silver has printed lower highs since the 67.53 late-September peak, capped by a lower-highs trendline. The hot US CPI print broke the 58.50 prior low that had floored the multi-week range and flushed price through the 56.57 aug low to a 55.385 swing low. ATR(14) has expanded to roughly 800 pips and RSI is near 25, with price below both EMAs in bearish alignment while it stalls in a tight base just above 55.40.
Support: 55.385, 55.00
Resistance: 56.57, 58.50, 60.721
What it said to watch
US PPI, retail sales and claims at 12:30 UTC could materially shift this read; soft data opens room for a squeeze toward the 56.57 aug low
An H4 close back above the 56.57 aug low turns the breakdown level into a retest zone; failure there keeps the lower-high sequence intact
A break below the 55.385 swing low extends the downtrend toward the 55.00 psych level
A recovery into 58.50 prior low, near the 50–61.8% fib of the 61.44–55.39 drop, is where former support may cap
Only a close above the 60.721 lower high and the lower-highs trendline invalidates the downtrend structure
Silver has printed lower highs since the 67.53 peak, and the 58.40–62.00 base gave way when the hot core CPI print flushed price through the 58.40 prior low and the 56.57 August low to a 55.39 CPI low. ATR(14) has expanded to roughly 745 pips on that leg. RSI near 22 is deeply oversold, and the last two bars are holding just above the CPI low. EMA20 sits below EMA50, with both well overhead.
Support: 55.00
Resistance: 56.57, 58.40, 60.72
What it said to watch
Thu 12:30 UTC PPI and Retail Sales bundle could materially shift this read; soft data opens room toward the 56.57 August low
H4 close back above 56.57 (August low) would turn the breakdown into a false-break risk
Failure to hold the 55.39 CPI low extends the lower-low sequence toward the 55.00 round number
A recovery would need to clear 58.40 (prior low, near the 61.8% fib) to disturb the lower-high sequence capped at 60.72