Silver rebounded off the YTD low at 54.77, defending the 55.00 psych level and driving a three-day short-cover bounce back through the prior cap at 57.00 toward the one-week high near 59.70 on US-Iran ceasefire hopes and a softer dollar. Higher lows are in place since the base and price now sits above both EMAs, but the 60.00 psych level remains the cap on this recovery. ATR near 846 pips keeps this in an expansion regime rather than a clean trend break — still down sharply on the wider window.
Support: 57.00, 55.00, 54.77
Resistance: 59.70, 60.00
What it said to watch
H4 close above 60.00 psych opens the path to extending the rebound
Failure to hold the 57.00 prior cap reopens 55.00 and the 54.77 ytd low
S&P Global PMIs Fri could shift USD and materially change this read
Silver is rebounding off the $54.76 YTD low on US-Iran ceasefire hopes and a softer USD, reclaiming $57 and pushing toward the $59 area — a short-cover recovery within a three-week downtrend rather than a confirmed trend break. Higher-low structure is intact since the low and price now sits above both EMAs, but the $60.00 psychological cap still lids the move. ATR expanded sharply during the sell-off, keeping swings wide.
Support: 57.00, 55.50, 54.76
Resistance: 60.00
What it said to watch
H4 close above 60.00 psych opens further upside toward extending the bounce
Failure to hold 57.00 pivot risks a fade back toward 55.50 swing low
Break of 54.76 ytd low reasserts the bearish structure
S&P Global PMIs Fri could shift USD and cap this recovery
Silver has bounced hard off the 54.76 YTD-low zone, printing higher lows and clearing the mid-57s range on US-Iran ceasefire hopes and a softer USD. The move is a relief rally against a broader downtrend — price is now pressing back toward the 59.23 swing high with the 60.00 psychological barrier / descending resistance still capping. ATR remains elevated, so the recovery leg is expanding rather than compressing.
Support: 57.00, 54.76
Resistance: 59.23, 60.00
What it said to watch
H4 close above 60.00 would ease the bearish structure
Failure to hold 57.00 threatens the higher-low sequence off the YTD low
S&P PMIs Fri 24 Jul could shift the USD read and this bounce
Recovering off YTD low, below descending lower-highs.
Silver is three days into a relief bounce off the 54.77 YTD low, driven by US-Iran ceasefire hopes and a softer USD, and now sits near the 50% retrace of the 63.25-to-54.77 impulse. Price has cleared the EMA20 and EMA50 but remains capped by the descending line of lower highs into the 60.00 psychological barrier, keeping the broader structure bearish. ATR(14) is expanding as the recovery extends.
Support: 57.00, 55.00, 54.77
Resistance: 60.00
What it said to watch
H4 close above 60.00 would break the descending trendline and ease the bearish structure
Failure to hold 57.00 reopens the 55.00 support and the 54.77 ytd low
S&P PMIs Fri could shift USD and reprice this bounce
Double bottom off YTD low, recovering into prior supply.
Silver has staged a three-day rebound off the $54.77 YTD low, clearing the $57.25 descending trend-line and reclaiming both EMAs as the oil rally paused on US-Iran de-escalation hopes. The recovery is stalling near the 50% retrace of the 63.25-54.76 decline around $59, with $60 the next visible cap. The double-bottom near $55 held twice, but the broader H4 structure is still a downtrend until $60 gives way.
Support: 57.25, 55.00, 54.77
Resistance: 60.00
What it said to watch
H4 close above 60.00 psych confirms the recovery and extends the squeeze
Failure to hold 57.25 trendline retest reopens the 55.00 defended zone
Loss of 55.00 exposes the 54.77 ytd low
S&P Global PMIs Fri Jul 24 could shift the USD/rate read
Lower highs into 54.76 ytd low, three-day relief bounce.
Silver rolled over through the month in a clean lower-high sequence before printing a fresh YTD low at 54.76 and staging a sharp three-day relief bounce back above the ~57.25 descending trendline. Price now presses toward the 60.00 psych resistance as the oil rally pauses on US-Iran de-escalation hopes and hawkish-Fed fears cool. ATR is expanding as the squeeze runs, but the recovery remains capped by the 60 handle.
Support: 57.25, 54.76
Resistance: 60.00
What it said to watch
H4 close above 60.00 confirms the recovery and opens the path higher
Loss of the 57.25 retest zone signals the bounce fading back toward 55.00
S&P Global PMIs Fri Jul 24 could materially shift the USD/silver read
Third-day rebound off YTD low, higher lows since 54.76.
Silver has been in a multi-day downtrend from the 62-63 region to a 54.76 YTD low, but the last three H4 sessions form a corrective bounce printing higher lows. Price has pushed through the ~57.25 descending trendline and the 58.50 cap to 59.06, with the move framed as a relief rebound after hawkish-Fed repricing was largely absorbed. ATR is expanding as the bounce accelerates, though it remains below the 60.99 swing high.
Support: 57.25, 54.756
Resistance: 60.00, 60.99
What it said to watch
Sustained H4 close above 60.00 psych would extend the bounce toward the 60.99 swing high
Loss of the 57.25 trendline on a retest would signal the bounce fading
A break below 54.76 ytd low reopens the downside structure
S&P Global PMIs Fri could materially shift this read
Structure has trended lower for three weeks, culminating in a fresh YTD low at 54.77 before a three-bar corrective bounce lifted price back above 59. That move has cleared the descending trend-line off the 60.60 swing high, but the leg still sits inside the broader down-channel and the rally is retracing the prior 60.60→54.77 impulse. ATR remains elevated, and Friday's S&P Global PMIs are the key catalyst for whether the bounce extends or fades.
Support: 57.00, 54.77
Resistance: 60.00, 60.60, 62.20
What it said to watch
H4 close above 60.00 psych opens the channel top toward 62.20 prior high
Failure to hold 57.00 prior range re-exposes the 54.77 ytd low
S&P Global PMIs Fri 13:45 UTC could materially shift this read
Silver remains in an H4 downtrend, having printed a fresh YTD low at 54.76 before a corrective leg lifted it back toward 57.85, edging through the 57.25 falling trendline. The bounce follows a brutal week driven by energy-led inflation and revived Fed hike bets, with the safe-haven bid only cushioning. Overhead the 58.50 channel top and 60.00 psych level cap the rebound.
Support: 57.25, 55.00, 54.76
Resistance: 58.50, 60.00
What it said to watch
Failure to hold the 57.25 retest keeps the lower-high structure intact
A close below the 55.00 shelf reopens the 54.76 ytd low and downside
S&P Global PMIs Jul 24 13:45 UTC could materially shift this read
The broader H4 structure is still a downtrend that printed a fresh YTD low at 54.77 before demand stepped in, and the last few sessions have carved a higher-low recovery back toward the $57.25 falling trend-line context flags as overhead. The final bar closed at 57.848, edging above that cap, but price remains below the EMA50 with heavy supply at 58.50/60.00. ATR near 905 pips shows the bounce is expanding after the sell-off, not compressing.
Support: 57.25, 55.00, 54.77
Resistance: 58.50, 60.00
What it said to watch
Sustained H4 close above 57.25 keeps the recovery toward 58.50 in play; rejection there confirms the trend-line still caps
Failure to hold 55.00 reopens the 54.77 YTD low and 54.39 below
S&P Global PMIs Jul 24 13:45 UTC could materially shift this read
Rising lows off YTD base within broader downtrend.
Downtrend intact after the slide from ~65 into the $54.77 YTD low, but price has carved rising lows off that base and reclaimed the mid-$56s, in line with the two-day safe-haven bounce noted in the macro read. Falling-wedge resistance around the 57.46 swing high is capping the recovery, with the $58.50 channel top the next hurdle above. ATR remains elevated, keeping intraday swings wide.
Support: 55.00, 54.77
Resistance: 57.46, 58.50
What it said to watch
H4 close above 57.46 swing high opens the path to the 58.50 channel top
Loss of the 55.00 psych level re-exposes the 54.77 ytd low
S&P Global PMIs Fri could materially shift this read
H4 remains a clean downtrend off the early-month 65 area, printing successive lower highs into the 54.77 YTD low that marked last week's ~7% flush as oil-driven Fed rate-hike fears overwhelmed softer CPI. Price has rebounded off that low and is now stalling around the 57.25 lower-high trendline, with the pullback to 56.22 leaving structure intact below the EMAs. ATR is elevated, keeping the two-way swings between the 55.00 psych/54.77 floor and the 57.25 hurdle wide.
Support: 55.00, 54.77
Resistance: 57.25, 58.50
What it said to watch
H4 close above 57.25 trendline, then 58.50 channel top, would ease the downtrend read
Break of 55.00 psych / 54.77 ytd low opens 54.39 then 48.64
S&P Global PMIs Fri could reinforce or unwind the hawkish-Fed premium driving this move