Silver stays in a downtrend, printing lower highs and lower lows since the $60 rejection, but has staged a corrective bounce off the $54.77 YTD low toward the falling trendline near 57.25. ATR remains elevated after the ~7% weekly slide, though the last few bars are compressing as price consolidates below that hurdle. Softer June CPI/PPI trimmed hawkish-Fed bets and fuelled the higher-beta squeeze, but the rate-hike premium keeps this rally corrective.
Support: 55.00, 54.77
Resistance: 57.25, 58.50
What it said to watch
H4 close above 57.25 trendline opens the path to 58.50
Failure to hold 55.00 exposes the 54.77 YTD low and a 54.39 break
S&P Global PMIs Fri could firm USD and re-pressure silver
Downtrend intact since the breakdown from $65, with silver carving a YTD low at 54.77 before staging a corrective bounce to 56.4; the oil-led inflation and hawkish-Fed premium keeps capping rallies. Price is grinding below a falling lower-highs line into the 57.25 hurdle while holding above the 55.00 pivot, having printed a higher low near the YTD floor. ATR(14) has eased as the market consolidates in the 55-57 zone.
Support: 55.00, 54.77, 54.39
Resistance: 57.25, 58.50
What it said to watch
H4 close above 57.25 challenges the falling lower-highs line and opens 58.50
Loss of the 55.00 pivot reopens the 54.77 ytd low and 54.39 range floor
S&P Global PMIs Fri Jul 24 could rebuild the rate-hike premium and pressure silver
Silver remains in a multi-week downtrend from the 66.7 area, with a chain of lower highs still intact, but has staged a short-covering bounce off the 54.76 YTD low that stabilised after soft June CPI/PPI. Price has reclaimed EMA20 while EMA50 caps overhead, and rallies keep stalling below the 57.25 falling-wedge hurdle. ATR(14) near 875 pips shows range is still elevated as the bounce works higher.
Support: 55.51, 54.76
Resistance: 57.25, 58.70
What it said to watch
H4 close above 57.25 wedge hurdle opens the path to 58.70
Failure to hold 55.51 reopens the 54.76 ytd low
S&P Global PMIs Fri 24 Jul could materially shift this read
Silver shed roughly 7% into the 54.75 YTD low before short-covering lifted price back to 56.97, still capped below the 57.25 falling-wedge hurdle. Structure remains a sequence of lower highs and lower lows beneath the EMA50, though the recent bounce has reclaimed the EMA20. Soft June CPI/PPI trimmed hawkish-Fed bets but an oil-driven inflation premium keeps rallies pinned under the wedge.
Support: 55.00, 54.75
Resistance: 57.25, 58.50
What it said to watch
H4 close above 57.25 breaks the wedge and opens the 58.50 channel top
Failure to hold the 55.00 range floor reopens the 54.75 ytd low
S&P Global PMIs Fri 24 Jul could materially shift this read
Silver remains in a clear downtrend after the roughly 7% weekly rout that printed a YTD low at 54.756, driven by the hawkish-Fed/high-oil inflation narrative. Price is now grinding a corrective bounce back toward the 57.25 trendline pivot, having reclaimed EMA20 while still capped below EMA50. ATR sits elevated after the impulse leg, so the metal is unwinding oversold conditions rather than confirming a base.
Support: 55.00, 54.77, 54.39
Resistance: 57.25, 58.50, 60.00
What it said to watch
Rejection at 57.25 trendline keeps the lower-high structure intact
H4 close above 58.50 would ease the downside read toward 60.00
Loss of 55.00 / 54.77 exposes 54.39
S&P Global PMIs Fri could materially shift this read
Silver remains in a clear H4 downtrend, printing lower highs since the 62.75 pivot and posting a fresh YTD low at 54.77 before a corrective bounce back toward 57. The move up off the low is the third leg higher within a falling wedge, with price now pressing the 57.25 falling trendline hurdle. This reads as a rebound off oversold lows within the ~7% weekly rout rather than a structural turn — ATR remains elevated from the selloff.
Support: 54.77
Resistance: 57.25, 58.50
What it said to watch
Rejection at the 57.25 trendline keeps the lower-high sequence intact
A close above 58.50 would ease the downside structure
Break of the 54.77 ytd low exposes 54.39
S&P Global PMIs Fri Jul 24 13:45 UTC could shift the USD/silver read
Lower highs/lows in descending channel, basing off YTD low.
Silver remains in a multi-day downtrend, shedding roughly 7% on the week to a fresh YTD low at 54.76 before a short-covering bounce lifted price to 57.13. The structure is a clean descending channel below the EMA50; soft June CPI failed to hold gains as oil-driven inflation fears and 'restrictive-for-longer' Fed pricing kept the metal offered. Price has reclaimed the EMA20 intraday but the broken 58.50 support and the 60.00 psych level cap the recovery.
Support: 55.71, 54.76, 54.39
Resistance: 58.50, 60.00
What it said to watch
Sustained H4 close above 58.50 would challenge the descending channel and open the 60.00 psych level
Loss of the 54.76 ytd low / 54.39 channel base exposes 48.64
S&P Global PMIs Fri 24 Jul 13:45 UTC are the next high-impact catalyst and could reshape this read
Failure to hold above the 55.71 bounce low resumes the lower-low sequence
Silver remains in a multi-week downtrend, sliding from ~66 to a fresh YTD low at 54.76 as reviving 'restrictive-for-longer' Fed pricing and firm oil crushed the non-yielder despite cooler June CPI. Price is now staging a corrective bounce off that low, reclaiming EMA20 near 56.8 while capped well below the EMA50 around 58.4. Structure of lower highs and lower lows is intact until a decisive reclaim above the 58.40–60.00 band.
Support: 54.76
Resistance: 58.40, 60.00
What it said to watch
Loss of 54.76 exposes the 54.39 area and opens the path toward 48.64
H4 close back above 58.40 (ema50) would neutralise the lower-high sequence
S&P Global PMIs Fri 13:45 UTC are the next high-impact catalyst for this read
05:04 UTC
Downtrend, bounce off lows · RSI 46 · price 57.036
Lower highs, lower lows; testing YTD-low support.
Silver remains in a clear downtrend, shedding roughly 7% on the week to a fresh YTD low at 54.76 as energy-led inflation and rate-hike fears trumped safe-haven demand. Buyers stepped in twice near 55.00 and the metal has recovered toward the descending lower-high line, with the 58.50-59.00 rejection zone the first overhead hurdle. ATR remains elevated, keeping swings wide and squeezes sharp.
Support: 55.00, 54.76
Resistance: 58.50
What it said to watch
H4 close below 54.76 ytd low opens deeper downside
Reclaim of the 58.50 rejection zone would ease the downtrend read
S&P Global Flash PMIs Fri 13:45 GMT could materially shift this read
05:04 UTC
Downtrend, bouncing off lows · RSI 45 · price 57.036
Lower highs/lows, YTD low set then relief bounce.
Silver remains in a clear H4 downtrend that printed a fresh YTD low near 54.76, driven by energy-led inflation and rate-hike fears offsetting safe-haven demand. Price has bounced off the low and is retracing about half of the last impulse leg, now testing 57.00 with ATR still elevated. Momentum is recovering off oversold but the sequence of lower highs into the 58.50-59.00 rejection zone is intact.
Support: 54.76
Resistance: 58.50, 59.00
What it said to watch
H4 close above the 58.50-59.00 rejection zone would break the lower-high sequence
Break below 54.76 ytd low opens deeper downside
S&P Global flash PMIs Fri 13:45 GMT could materially shift this read
Silver remains in a well-defined descending channel, printing a fresh YTD low near 54.76 before stabilising just above the 55.00 floor. Oil-driven inflation-hike fear has kept sellers in control despite soft June CPI/PPI and a weaker dollar, capping any recovery attempts. Price sits below both EMA20 and EMA50, with the last several bars compressing into a tight range around 55.5.
Support: 55.00, 54.76
Resistance: 56.50
What it said to watch
H4 close below 55.00 / 54.76 confirms lower-low continuation
Reclaim of 56.50 needed to challenge the channel top
S&P Global Flash PMIs Jul 24 could shift the read via Fed-hike odds and oil
01:04 UTC
Downtrend, at multi-month lows · RSI 41 · price 55.707
Lower highs, lower lows in descending channel.
Silver remains in a well-defined descending channel, marking a fresh YTD low at 54.76 after a brutal ~7% weekly slide driven by oil-led inflation fear that overwhelmed softer US CPI/PPI. Price is now basing just above the 55.00 psych floor, with EMA20 and EMA50 stacked overhead. ATR is elevated, consistent with a trend still extending rather than compressing.
Support: 55.00, 54.76
Resistance: 58.00
What it said to watch
H4 close below 54.76 ytd low opens fresh downside
Reclaim of 58.00 needed to threaten the channel structure
S&P Global Flash PMIs Jul 24 could shift the read via Fed-hike pricing
Oil / Strait of Hormuz headlines remain the dominant driver