21:05 UTC
Downtrend, corrective bounce · RSI 45 · price 69.93
Lower highs/lows since Feb, basing near 63.
Silver has been in a clear downtrend since the ~96 February peak, printing a chain of lower highs and lower lows into the early-June low near 63. The metal bounced almost 12% off that base and reclaimed the 200-day area at 68.59, but stalled below the 71.30 swing high after a hawkish FOMC lifted the dots and reset Fed expectations. Price sits below both EMA20 and EMA50, keeping the broader structure heavy despite the recovery.
Support: 68.59, 63.40
Resistance: 71.30, 74.55
What it said to watch
- Daily close back below 68.59 (200d sma) reopens the 63.40 swing low
- Close above 71.30 swing high challenges the lower-high sequence toward EMA50 at 74.55
- FOMC presser / Thu jobless claims could shift the USD-driven read