Higher highs into 67.32, now sideways under lower highs.
Silver's dominant move of the week came from Thursday's 62.30 low, extending through the London and NY sessions Friday to a week high at 67.32 as the WTI slide pulled long-end yields off 5% and unwound the post-Fed selloff. The last ten hours of Friday were pure consolidation between the friday low at 65.97 and the friday high at 66.85, and the new week reopened with a small gap down to 66.13 before recovering to close back on the ema20 near 66.32. RSI(14) has cooled from 78 at the highs to the mid-50s without price giving back much ground — momentum flattening rather than reversing, with EMA50 still well below at 65.64.
Support: 66.32, 65.97, 65.53
Resistance: 66.85, 67.32
What it said to watch
Hourly closes back above the friday high at 66.85 would resume the sequence of higher highs toward the week high at 67.32
Loss of 65.97 on a closing basis would confirm the first lower low since Thursday and put the 65.53 swing low in focus
Failure to hold the ema20 around 66.32 turns this week's consolidation into distribution of Friday's range
Fed's Goolsbee Mon 10:30 GMT and the ADP four-week average Tue are live risk for October hike pricing; S&P Global flash PMIs Wed 13:45 GMT are the week's main event and could materially shift this read
22:07 UTC
Uptrend, momentum cooling · RSI 54 · price 66.318
Higher highs into 67.32, now consolidating under the week high.
The week's dominant move was the Thursday-Friday reversal off the 62.30 post-Fed low, with the oil and long-end yield unwind driving silver more than $5 higher into the NY session peak at the 67.32 week high. Since that peak price has consolidated in a 66.18-66.85 band, with the friday low at 66.18 holding two probes and the Sunday re-open sitting right on the EMA20 near 66.31, well above the EMA50 at 65.61. RSI(14) has cooled from overbought to 53.5 without breaking the sequence of higher lows off 65.18.
Support: 66.31, 66.18, 65.53
Resistance: 66.85, 67.32, 68.00
What it said to watch
Hourly close back above 66.85 friday high re-opens the 67.32 week high and the 68.00 round number
Loss of the 66.18 friday low, and then the EMA20 failing to cap, would confirm the first lower low since Thursday's turn
A slide through 65.53 swing low would unwind the whole Friday breakout shelf
Fed's Goolsbee Monday and flash PMIs Wednesday are the live catalysts for the yield channel driving this move
21:09 UTC
Uptrend, momentum cooling · RSI 54 · price 66.249
Higher highs/higher lows since Wednesday's low, now consolidating under the week high.
Silver's week split in two: a post-Fed flush to 62.30 on Wednesday, then a two-day, ~500-cent recovery through Thursday and Friday as the oil correction pulled long-end yields off the highs, peaking at the 67.32 week high in Thursday's NY session. The last ten hours have been corrective rather than impulsive — the 67.00 psych level and the 66.85 prior high have capped, Friday's NY session dipped to the 65.97 friday low before recovering, and price now sits right on EMA(20) near 66.30 with RSI(14) unwound from overbought to ~54. EMA(50) around 65.4 remains below spot, so the higher-low sequence off Wednesday's low is intact but flattening.
Support: 66.18, 65.97, 65.21
Resistance: 66.85, 67.00, 67.32
What it said to watch
Hourly close below the 66.18 day low breaks the higher-low sequence and puts the 65.97 friday low, then the 65.21 prior shelf, back in focus
Reclaiming 67.00 and closing above the 67.32 week high would resume the impulse rather than extend the consolidation
Fed's Goolsbee Mon 10:30 GMT and flash PMIs Wed 13:45 GMT are the live catalysts for the yield channel driving this move