21:07 UTC
Downtrend since late-August peak, pausing above October low · RSI 38 · price 56.936
Lower highs and lower lows since 71.17; tight 57–58 base above 55.39.
Silver has held a lower-high, lower-low chain since the 71.17 August peak. The 22 September failure at 67.53 confirmed the turn, and price now trades below a falling EMA(50) and below the EMA20 near 59.87. Last Wednesday's hot September CPI drove the break to the 55.39 oct low, the deepest since July. Price has since compressed in a 57–58 band, and the recent cap at 57.96 has held through a softer-USD rebound on weak housing data, with RSI near 38 and not yet oversold.
Support: 54.756
Resistance: 57.962, 59.87, 61.435
What it said to watch
- D1 close above the 57.96 recent cap reopens the ema20 near 59.87; the 61.43 prior high, which sits at the 38.2% retracement, marks where the lower-high chain would be challenged
- D1 close below the 55.39 oct low extends the lower-low sequence toward the 54.76 july low
- Friday's S&P PMIs and UoM inflation expectations, followed by next week's FOMC, could materially shift this read through yields and the USD