19:05 UTC
Downtrend from parabolic peak · RSI 38 · price 58.942
Lower highs, lower lows since Q1 peak.
Silver completed a parabolic blow-off that peaked at 121.63 in Q1 and has been in a sustained downtrend since, roughly halving into the 59 area. Price trades well below the now-flattening W1 EMA(50), confirming a decisive regime shift from the 2025-26 mania into distribution/decline, with the descending-channel structure intact. Market context flags $55 as key support and the 61.20-63.25 zone as the cap; weekly RSI is mid-range, so no washed-out extreme yet.
Resistance: 63.25
What it said to watch
- Weekly close below 55 key sup opens continuation toward the 50 psych area
- Reclaim of the 63.25 swing high needed to question the downtrend
- S&P Global PMIs Jul 24 could shift the Fed hike narrative driving silver