XAG/USD AI Live Scan, 1-hour chart, Tuesday, 20 October 2026
Every read JAFX AI made on the XAG/USD 1-hour chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
23:04 UTC
Rebound from CPI low, capped at 58.00 · RSI 62 · price 57.906
57–58 range with failed NY break above 58.00.
Silver has recovered from last Wednesday's 55.385 CPI low, but the 58.00 round number has capped it for four sessions; Friday's 57.96 and Monday's 57.84 highs both faded back toward the 57.00–57.20 area. Tuesday's Asia-session dip to the 56.37 week low reversed, and soft US housing data plus easing yields drove an NY-session spike to the 58.592 spike high that slipped back under 58.00, a false break. Price now holds 57.70–58.00 above EMA(20) near 57.61 and the 57.16 weekly open, with RSI(14) near 62 and the pullback from Tuesday's impulse stalling around its 38.2% retracement.
Support: 57.61, 57.163, 56.37
Resistance: 58.00, 58.592
What it said to watch
H1 close above the 58.592 spike high would invalidate the false-break read and open the move toward 60.00 channel resistance
Loss of EMA(20) at 57.61 and then the 57.16 weekly open would return price to the 57.00–58.00 range base
A break below the 56.37 week low would break the rising support from 55.385 and set a lower low
Thu jobless claims and Fri S&P PMIs / UoM inflation expectations could materially shift this read via yields and USD
Higher lows from 55.38; range 57.00–58.00 with a rejected spike.
Silver has rebuilt from last Wednesday's 55.38 post-CPI low along a line of higher lows. Since Thursday it has rotated in a 57.00–58.00 band, with the 58 cap turning back Friday, Monday and Tuesday's NY session spike to the 58.59 week high, which came on the weak housing data and softer yields. Price has held above EMA20 (~57.55) since that spike and closed the session pressing 58 again, with RSI(14) holding the mid-50s rather than stretching.
Support: 57.55, 57.163, 56.37
Resistance: 58.00, 58.592
What it said to watch
H1 close above the 58 cap, then the 58.59 week high, would break the range top
Failure to hold EMA20 and then the 57.16 weekly open puts the 50% fib of the rally near 56.99 in play
A break below the 56.37 swing low would breach the higher lows line
Thu jobless claims and Fri S&P PMIs / UoM inflation expectations could materially shift this read
Silver has recovered from last Wednesday's CPI-driven 55.385 low. Since Friday it has been boxed between the 58 cap, which held on Friday and Monday, and Tuesday's Asia-session dip to the tue low at 56.37, a near-exact 61.8% retracement of that rally that kept the higher lows intact. Weak US housing data and softer yields drove a NY-session spike to 58.592 on Tuesday, but the spike high was rejected inside the hour, a false break back under 58.00. Price is now closing the day near 57.98, above the ema20 at about 57.60 and above the 57.163 weekly open, with RSI(14) near 58.
Support: 57.60, 57.163, 56.37
Resistance: 58.00, 58.592
What it said to watch
An H1 close above the 58 cap, then a hold above the 58.592 spike high, would end the range read
Slippage back below the ema20 near 57.60 returns price to the middle of the range
Failure to hold the 57.163 weekly open exposes Monday's 57.02 low
A break of the tue low at 56.37 snaps the higher lows and the 61.8% retracement
Thu jobless claims and Fri S&P PMIs / UoM inflation expectations could materially shift this read
20:04 UTC
Rebound from CPI low, capped near 58.00 · RSI 56 · price 57.76
57.00–58.00 range since Friday, higher lows, false break above 58.
The rebound from Wednesday's 55.39 CPI low stalled at the 57.96 friday high, and price has rotated inside a 57.00–58.00 range since. Tuesday's Asia-session dip held at the 56.37 tuesday low, the 61.8% of the rebound fib, and NY's 56.78 low printed a second higher low. Weak US housing data and easing yields drove a NY-hours spike to the 58.59 spike high, but it faded on the next bar and price is back under 58.00, holding above EMA(20) near 57.53 with RSI(14) in the mid-50s.
Support: 57.53, 57.00, 56.37
Resistance: 57.96, 58.59
What it said to watch
H1 acceptance above 58.00 and the 58.59 spike high would invalidate the range read
Failure to hold the 57.00 range floor exposes the 56.37 tuesday low and breaks the higher lows line
Repeated H1 closes back below EMA(20) at 57.53 would mark another rejection from the range top
Thu jobless claims and Fri S&P PMIs / UoM inflation expectations could materially shift this read
19:04 UTC
Recovery from CPI low, stalling under 58.00 · RSI 60 · price 57.864
Higher lows since Wednesday's CPI low; 58.00 round number capping, NY spike above it faded.
Silver has printed higher lows since Wednesday's post-CPI low at 55.39, with Tuesday's Asia low at 56.37 and the swing low at 56.78 into the NY session. The NY session spike to 58.59 came on the weak Pending Home Sales and Housing Starts prints and softer yields, but price could not hold above the 58.00 round number, which also capped Friday and Monday. Price is now at 57.86, about 23.6% back into the impulse from the CPI low, sitting above ema20 (~57.51) and the weekly open at 57.16 with RSI(14) near 60.
Support: 57.51, 57.16, 56.78
Resistance: 58.00, 58.59
What it said to watch
H1 acceptance above the 58.00 round number would turn the failed spike into a range break, with the 58.59 spike high next overhead
Loss of ema20 and the 57.16 weekly open returns price to the 57.00–58.00 chop seen since Friday
A break below the 56.78 swing low would end the higher-lows sequence and the trendline off the CPI low
Thursday's Jobless Claims (12:30 UTC) and Friday's PMIs and UoM inflation expectations could materially shift this read via yields and USD
Silver has rebuilt the post-CPI rally from last Wednesday's 55.385 low. Higher lows printed at 56.37 in Tuesday's Asia session and 56.78 into the London-NY transition, and price holds above EMA(20) near 57.45 and EMA(50). Soft US housing data and lower yields drove a NY-session spike to 58.592. Supply rejected it straight back under the 58.00 cap that also held Friday and Monday. RSI(14) sits mid-range around 57, with no extreme.
Support: 57.45, 57.00, 56.37
Resistance: 58.00, 58.592
What it said to watch
An H1 close back above 58.00 and the 58.592 week high would break the week's range top
A loss of EMA(20) and then the 57.00 pivot would put the 56.37 week low and the higher-lows line back in play
Fri 23 Oct S&P Global PMIs (13:45 UTC) and UoM inflation expectations (14:00 UTC) could materially shift this read
Thu 22 Oct jobless claims and US-Iran headlines are live swing risks for yields and the USD
17:05 UTC
Recovery from CPI low, capped near 58.00 · RSI 55 · price 57.746
Higher lows from 55.385, rotating 56.9–58.0 since Friday.
Silver has rebuilt from Wednesday's CPI-driven 55.385 low, printing a higher low at 56.37 (the tuesday low) in Asia, but since Friday it has rotated in a 56.9–58.0 band with the friday high at 57.96 acting as the cap. The NY-hours spike to the 58.592 week high came as weak US housing data pulled yields and the USD lower. Price was rejected back below 58.00 within the hour, leaving a long upper wick. Price still holds above the ema20 near 57.37, and RSI(14) has eased to around 55 from the spike.
Support: 57.37, 57.00, 56.37
Resistance: 57.96, 58.592
What it said to watch
H1 acceptance back above the friday high at 57.96 and the 58.592 week high would undo the false break read
Loss of the ema20 at 57.37 and the 50% fib at 57.00 returns price to the lower half of the range
Break of the tuesday low at 56.37 and the higher-low trendline would end the recovery structure
Thu jobless claims and Fri S&P Global PMIs / UoM inflation expectations could materially shift this read
16:04 UTC
Recovery from Wednesday low, now range-bound under 58 · RSI 57 · price 57.812
Range below the friday high; Tuesday spike above it rejected.
Silver dropped to the 55.39 low on Wednesday after the hot CPI print. It has since rebuilt into a 56.9–57.96 range, capped by the friday high, and Tuesday's Asia dip found the week low at 56.37. The soft US housing data (Pending Home Sales -7.3% vs -0.5%) drove a NY-session spike to the 58.59 week high, but the next bar fell back below the friday high, a false break. Price now sits above the ema20 near 57.38, which lines up with the 38.2% retracement of the 55.39–58.59 advance, and RSI(14) is holding in the mid-50s.
Support: 57.38, 57.163, 56.37
Resistance: 57.96, 58.592
What it said to watch
H1 close back above the 57.96 friday high would turn today's spike into a breakout and put the 58.59 week high back in play
Loss of the ema20 / 38.2% fib near 57.38 exposes the 57.16 week open and the 57.00 area at the 50% retracement
Failure under the rising support line from Wednesday's low (near 56.50) and the 56.37 week low reopens the 55.39 low
Thu 12:30 UTC jobless claims and Fri 13:45–14:00 UTC PMIs and UoM inflation expectations could materially shift this read via yields and USD
Higher lows since 55.385; 57.00–57.96 range broken upward in NY session.
Silver lifted out of the 57.00–57.96 range in the NY session. The range had held since Thursday, and the move came as yields eased on today's soft US housing data (pending home sales −7.3%). Price tagged a 58.59 week high and the bar closed near 58.11, leaving an upper wick that marks supply at the week high, just above the 58.00 psych level. The rebound from Wednesday's post-CPI 55.385 low continues to print higher lows, most recently 56.37 in the Asia session, with RSI(14) at ~66 and EMA(20) near 57.35 sitting close to the 38.2% of the rebound fib.
Support: 57.962, 57.35, 57.163
Resistance: 58.592, 58.784
What it said to watch
Hourly closes back below the 57.96 prior high would turn the range break into a false break and return price to the 57.00–57.96 range
Acceptance above the 58.59 week high exposes the 58.78 cpi high, the top of Wednesday's CPI bar
Loss of EMA(20) near 57.35 and the 57.16 weekly open would unwind the breakout leg and test the higher-lows line
Thu 12:30 UTC jobless claims and Fri 13:45 UTC S&P Global PMIs could materially shift this read
14:03 UTC
Range after post-CPI rebound, lower highs since Friday · RSI 55 · price 57.411
Compressing 56.37–57.96 range, lower highs against higher lows.
The rebound from the 55.38 post-CPI low has stalled into a run of lower highs: the 57.96 Friday high, the 57.84 Monday high and the 57.61 lower high today. Tuesday's Asia session dip held the 56.37 week low at the 61.8% retracement of that rebound, and a higher low followed at the 56.78 swing low. The first hour of NY, after the Housing Starts miss, then lifted price back above EMA(20) and EMA(50), which sit clustered near 57.22, with RSI(14) in the mid-50s and the 57.00 pivot absorbing repeated dips today.
Support: 57.00, 56.783, 56.37
Resistance: 57.611, 57.84, 57.962
What it said to watch
H1 close above the 57.61 lower high breaks the descending-highs sequence and brings the 57.84 Monday high and 57.96 Friday high back into view
Failure to hold the 57.00 pivot exposes the 56.78 swing low; a loss of the 56.37 week low, the 61.8% fib, undercuts the higher-lows read
Friday's S&P Global PMIs (Services f/c 57.9, Mfg f/c 55.6) are the main catalyst that could break this range; Thursday's jobless claims are secondary
Lower highs since Friday inside a 56.37–57.96 range.
Wednesday's hot CPI flushed silver from 58.78 to 55.39 into the NY session. Falling yields then drove a Thursday–Friday rebound that met rejection at 57.96, just shy of the 58 cap. Since then the structure has printed lower highs at 57.84 on Monday and the 57.61 Tuesday high, while Tuesday's Asia dip held the 61.8% fib of the rebound at 56.37. Price now sits below the EMA(20) near 57.19, pressing the 57.00 pivot after a London low at 56.78, with RSI(14) near 44 and drifting in the mid-range.
Support: 57.00, 56.783, 56.37
Resistance: 57.19, 57.611, 57.962
What it said to watch
H1 close below the 57.00 pivot and the 56.78 london low exposes the 61.8% fib at 56.37
Close back above the ema20 and the lower-highs line through the 57.61 tuesday high reopens the 57.96 rebound high and the 58 cap
Fri S&P Global PMIs 13:45 UTC and UoM 1y inflation expectations 14:00 UTC could materially shift this read
Initial Jobless Claims Thu 12:30 UTC is a secondary risk to the range read
Wednesday's hot CPI flushed silver from 58.78 to the 55.385 cpi low. The rebound, helped by easing yields and a softer DXY, has stalled near the 78.6% retrace, with the 58 cap rejecting Friday at 57.96. This week's highs are stepping lower, from the 57.84 week high on Monday to the 57.61 tue high in early London. Tuesday's Asia dip to the 56.37 week low ran below Friday's 56.88 low and reversed, a false break. Price is now chopping around the 57.00 round number and the 50% retrace, just under a flat EMA(20) with RSI(14) near 50.
Support: 57.00, 56.37, 55.385
Resistance: 57.611, 57.84, 57.962
What it said to watch
H1 close below the 57.00 round number re-exposes the 56.37 week low, with the cpi low at 55.385 beyond
Close above the 57.61 tue high breaks the lower-highs sequence and reopens the 57.84 week high
Sustained trade through the 57.96 Friday high / 58 cap would end the post-CPI range read
US housing data and ADP today 12:15–14:00 UTC could jolt the 57.00 pivot
Fri Oct 23 S&P PMIs and UoM inflation expectations are the main risk to this range
11:04 UTC
Range after Wednesday's plunge, highs slipping · RSI 50 · price 57.12
57.00–57.85 range below 58.00, lower highs since Friday.
Wednesday's hot-CPI collapse from 58.89 to 55.39 was retraced to the 73.6% fib at Friday's 57.96 high as softer yields and USD lifted silver. Since the Friday NY session, price has been boxed above the 57.00 pivot under lower highs at Monday's 57.84 and Tuesday's 57.61. Tuesday's Asia-session dip to 56.37 was a false break, reclaimed within two bars, and price now sits at the 50% fib near 57.14, just under EMA(20) and the weekly open, with RSI(14) flat near 50.
Support: 57.00, 56.88, 56.37
Resistance: 57.61, 57.84, 57.96
What it said to watch
An H1 close below the 57.00 pivot and Friday's 56.88 low would shift the read toward a retest of Tuesday's 56.37 low.
A close above the lower-highs trendline and Tuesday's 57.61 high reopens the Monday and Friday highs at 57.84–57.96, beneath the 58.00 cap.
US housing starts and permits at 12:30 UTC today, then Friday's PMIs and UoM inflation expectations, could shift this read via the 10y yield.
10:03 UTC
Range after CPI rebound, highs fading · RSI 48 · price 57.045
Lower highs from 57.96; 56.37–57.96 range.
Silver retraced about three-quarters of last Wednesday's CPI-driven plunge from 58.89 to 55.39. That rebound stalled at Friday's 57.96 week high and has printed lower highs since: 57.84 on Monday and 57.61 (the tue high) around today's London open. Today's Asian-session dip to the 56.37 asia low was bought back, but price is pinned near the 57.00 round number, below ema20 (~57.17), with RSI(14) flat near 48 as softer yields offset the hawkish Fed backdrop.
Support: 57.00, 56.88, 56.37
Resistance: 57.17, 57.61, 57.96
What it said to watch
H1 close below the 57.00 round number and the 56.88 friday low reopens the 56.37 asia low
Reclaiming ema20 and a close above the 57.61 tue high breaks the lower highs sequence, with the 57.96 week high above
ADP at 12:15 UTC and housing data at 12:30 UTC today, then Friday's PMIs and UoM inflation expectations, could shift the read via yields and USD
Coiling range 56.37–57.96, lower highs over higher lows.
Silver has retraced about 61.8% of Wednesday's hot-CPI plunge (the CPI drop fib from 59.04 to the 55.39 weekly low). Rallies have stalled in a lower-high sequence below the $58 area: the Friday high at 57.96, the Monday high at 57.84 and today's 57.61 day high, which was rejected twice during the London session. Tuesday's Asia low at 56.37 drew demand as yields eased and sits on the higher-low line. Price is now pinned at a flat ema cluster near 57.27 with RSI(14) at 51, compressing between the 57 pivot and the lower-high line.
Support: 57.27, 56.37
Resistance: 57.61, 57.84, 57.96
What it said to watch
H1 close below the 57 pivot (Friday close/Monday low) puts the asia low at 56.37 and the higher-low line back in play
Acceptance above the 57.61 day high and the lower-high line opens the monday high 57.84 and friday high 57.96
A break of the higher-low line would end the post-CPI recovery structure
US housing data and ADP from 12:15 UTC today and Friday's S&P Global PMIs and UoM inflation expectations could materially shift this read via yields
Range 56.37–57.96 below the 61.8% retrace of the CPI drop.
Silver has retraced about half of Wednesday's CPI-driven collapse from 59.32 to 55.39, and the cpi fib shows the rebound stalling near the 61.8% zone below 58.00. Since then highs have stepped lower: the 57.96 friday high, the 57.84 monday high and now the 57.61 session high, which capped two pushes into London open today. Price sits on EMA(20) just above the 57.00 pivot with RSI(14) flat near 50, after an Asia-session dip to the 56.37 week low was reclaimed as Hormuz haven demand offsets firm December-hike pricing.
Support: 57.00, 56.37
Resistance: 57.61, 57.84, 57.96
What it said to watch
H1 close above the 57.61 session high and the lower highs line opens the 57.84 monday high and 57.96 friday high, the 61.8% cpi fib zone
Failure to hold the 57.00 pivot re-exposes the 56.37 week low
US Housing Starts and Building Permits at 12:30 GMT today; Friday's S&P Global PMIs and UoM inflation expectations could reprice October-hike odds and shift this read
Lower high 57.96 vs 59.36; 56.37–57.96 range since Friday.
Wednesday's hot-CPI collapse in the NY session took silver from 59.36 to 55.39. The rebound has stalled at the 61.8% retracement of that sell-off, with the Friday high at 57.96 and Monday's week high at 57.84 forming lower highs. Tuesday's Asia-session dip to the 56.37 week low was a false break below the prior close and was reclaimed by London open, on haven demand tied to Hormuz headlines. That puts price back above the weekly open and EMA(20), with RSI(14) near 59 and the rising lows from the CPI trough intact.
Support: 57.163, 56.977, 56.37
Resistance: 57.84, 57.962
What it said to watch
H1 close above the 57.96 friday high and 58.00 breaks the lower-highs line and the 61.8% cap
Failure back below the weekly open at 57.16 and the 56.98 prior close returns focus to the 56.37 week low
A break of the rising lows from the 55.39 CPI low would expose the range floor
Friday's S&P Global PMIs and UoM inflation expectations could materially shift this read; today's US housing data at 12:30 GMT is a secondary risk
06:04 UTC
Range after CPI selloff, momentum flat · RSI 48 · price 57.183
Lower highs below 58.00 cap, higher low held at 61.8% fib.
Silver has recovered from Wednesday's CPI-driven collapse to the 55.385 cpi low. Thursday–Friday's rebound stalled at the 57.96 prior high just under 58.00, and since then the monday high at 57.84 and today high at 57.56 form a sequence of lower highs. The Asia session dip to the 56.37 asia low tagged the 61.8% fib of the rebound, then price reclaimed the 57.00 pivot; it now sits flat around EMA(20) and EMA(50) near 57.2–57.3, with RSI(14) at ~48, as Hormuz haven demand offsets firm Fed-hike pricing.
Support: 57.00, 56.37, 55.385
Resistance: 57.559, 57.84, 57.962
What it said to watch
H1 close above the lower-highs line and the 57.84 monday high reopens the 57.96 prior high and 58.00 cap
Failure to hold the 57.00 pivot exposes the 56.37 asia low and 61.8% fib
A break of 56.37 shifts focus back toward the 55.385 cpi low
US Housing Starts at 12:30 GMT today, then Friday's PMIs and UoM inflation expectations, could reprice October hike odds and shift this read
Consolidation 56.37–57.96, lower highs vs higher lows.
Wednesday's hot US CPI print drove the CPI selloff from 59.36 to 55.39 during NY hours. The rebound since has stalled below the 58.00 cap: Friday topped at 57.96, and Monday's week high at 57.84 sits on the 61.8% fib, a lower high. Tuesday's Asia session dipped to a week low of 56.37, below the 38.2% fib, then reclaimed it on haven demand tied to Hormuz headlines. That puts price back above an ema20 and EMA(50) converged near 57.26, with RSI(14) around 57 and the Asia high at 57.56 capping for now. The range is tightening between lower highs and higher lows.
Support: 57.26, 56.90, 56.37
Resistance: 57.56, 57.84, 58.00
What it said to watch
H1 close above the 57.84 week high, through the lower highs line, exposes the 58.00 cap that blocked Friday's rebound
Failure to hold the ema20 near 57.26 and then the 38.2% fib near 56.90 reopens the 56.37 week low and the higher lows line
A break below the 56.37 week low would turn Tuesday's false break into a lower low within the CPI selloff
US housing starts and permits at 12:30 GMT today are medium risk; Friday's S&P Global PMIs and UoM inflation expectations could materially shift this read via October Fed-hike pricing
Consolidation 56.40–57.95 with lower highs since Friday.
Since Wednesday's hot-CPI flush to 55.38 in the NY session, silver has recovered into a 56.40–57.95 band. Highs are getting lower, from the 57.96 friday high to Monday's 57.84 week high, and both sit near the 61.8% retrace of the CPI drop. Monday's London-hours push faded through NY as yields stabilised. Tuesday's Asia session dip under the 56.88 friday low reached 56.37, the tuesday low, and was reclaimed within two bars. That leaves price back above a flat ema20/ema50 pair near 57.25, with RSI(14) at about 55.
Support: 57.25, 56.88, 56.37
Resistance: 57.56, 57.84, 57.96
What it said to watch
H1 close above the 57.84 week high and the lower-highs trendline breaks the lower-high sequence and exposes the 57.96 friday high and the $58 cap
Asia session high at 57.56 is the first cap; rejection there keeps the lower-highs read intact
Failure to hold the ema20 near 57.25 brings the 56.88 friday low and the 56.37 tuesday low back into play
US ADP, housing starts and permits 12:15–14:00 UTC today could shift the read via yields and USD
Range 56.37–57.96 since Friday; higher lows vs lower highs.
Wednesday's hot US CPI flushed silver from the 59.36 pre-CPI high to the 55.385 CPI low during NY hours. Thursday and Friday retraced to the 61.8% zone, where the 57.96 Friday high and 57.84 Monday high now form lower highs. The Asia session today dipped through the 56.88 Friday low to the 56.37 Asia low and saw a sharp rejection back above EMA(20) near 57.25, putting price mid-range at the 50% retrace with RSI(14) near 51 and the higher-lows line intact.
Support: 56.88, 56.37, 55.385
Resistance: 57.84, 57.962, 59.359
What it said to watch
H1 close above the 57.96 friday high breaks the lower-highs sequence and opens the path toward the 59.36 pre-CPI high
Failure to hold the 56.37 asia low breaks the higher lows and exposes the 55.385 CPI low
Repeated closes below the 56.88 friday low (38.2% retrace) would shift the range read lower
US Housing Starts/Permits and Pending Home Sales today 12:30–14:00 UTC; Friday's S&P Global PMIs are the bigger test for USD and yields
02:03 UTC
Corrective bounce rolling over, lower high in place · RSI 36 · price 56.867
Lower high at 57.84 under 57.962; Friday low 56.88 lost.
The post-CPI rebound from the 55.385 cpi low stalled at the 57.962 week high on Friday. Monday's London session then printed a lower high at 57.84, and NY hours slid back under the 57 pivot as the USD and yields steadied after last week's hot CPI/PPI. Tuesday's Asia session spiked to 56.37, the 61.8% fib of the bounce, where demand stepped in and price recovered toward 56.95; price sits below EMA(20) and EMA(50) with RSI(14) in the mid-30s.
Support: 56.37, 56.00, 55.385
Resistance: 57.84, 57.962
What it said to watch
H1 close back above the 57 pivot (38.2% retracement) reopens the 57.84 monday high
Failure to hold the 61.8% fib at 56.37 exposes the 56.00 round number and the 55.385 cpi low
A break of the 57.962 week high ends the lower highs sequence
US housing data Tue 12:30 UTC and Friday's PMIs/UoM inflation expectations could materially shift this read
01:05 UTC
Rebound fading, lower high in place · RSI 36 · price 56.712
Lower high at 57.84 below 57.96; Fri–Mon range floor lost.
The rebound from Wednesday's hot-CPI flush to the 55.385 CPI low stalled at Friday's 57.962 rebound high, and Monday's early push printed a lower high at 57.84 before London-open and NY-hours selling as US yields firmed back to 5.13%. The Asia session has now broken below the 57.020 Monday low and Friday's 56.88 range floor, tagging the 56.674 Tuesday low at the 50% retracement of the rebound. Price sits below EMA(20) near 57.16, which overlaps the 57.163 weekly open, with RSI(14) at 36 after rolling over from the high-50s.
Support: 56.674, 56.469, 55.385
Resistance: 57.02, 57.163, 57.962
What it said to watch
Hourly close below the 56.674 Tuesday low (50% retracement) exposes the 56.469 Thursday low and the 61.8% near 56.37
A break of the 56.469 Thursday low leaves the 55.385 CPI low as the next structural reference
Failure to reclaim the 57.020 Monday low and 57.163 weekly open keeps the lower-highs sequence intact
Close above the 57.962 rebound high invalidates the lower-highs read
Tue US housing data (12:15–14:00 UTC) and Fri PMIs at 13:45 UTC could materially shift this read via yields and USD
Wednesday's hot CPI print sank silver during NY hours to the 55.385 cpi low. Hot PPI and retail sales then capped the rebound into Friday at the 57.962 rebound high, below $58. Monday printed a lower high at 57.84, right on the 61.8% retracement of the CPI drop, and was rejected there. Price has since slipped through the 57.056 monday low and the $57 pivot into the Asia session. It now sits near the 38.2% level and the 56.818 asian low, below EMA(20) and EMA(50), with RSI(14) in the high-30s.
Support: 56.818, 56.292, 55.385
Resistance: 57.056, 57.372, 57.962
What it said to watch
Hourly close back above 57.056 monday low would reclaim the $57 pivot and put the fib 50% at 57.372 back in view
Break of the 56.818 asian low extends the lower-low sequence toward the 56.292 thu low and then the 55.385 cpi low
A close above the 57.962 rebound high breaks the lower highs line and negates the stalling-rebound read
Tue housing starts/permits (12:30 UTC) and Fri S&P Global PMIs (13:45 UTC) could materially shift this read via Fed-hike pricing