21:08 UTC
Recovery uptrend, momentum flat · RSI 56 · price 66.278
Six-week range under 69.26 after the 54.76 base; higher lows intact.
Silver based at 54.76 in mid-July and has traded a rising sequence of lows since, but the last six weeks are a broad range: the 69.26 swing high and the 71.17 range top both rejected, and the September pullback bottomed at the 62.30 bounce low. The hawkish Fed hike on Sep 16 drove that flush, then two strong sessions late last week retraced the entire move as WTI corrected and the 10-year slipped back toward 4.93%, leaving price back above the ema50 and pressing the 67.32 prior high. Weekly cadence is now mean-reverting rather than trending — roughly 2250 pips of daily ATR inside a 62.30–69.26 band, with RSI mid-range.
Support: 65.20, 63.90, 62.30
Resistance: 67.32, 69.26, 71.17
What it said to watch
- Daily close above the 67.32 prior high would re-open the 69.26 swing high and the 71.17 range top
- Loss of the 65.20 shelf low returns focus to the ema50 near 63.90 and the 62.30 bounce low
- Wed Sep 23 13:45 GMT S&P Global US PMIs (Services f/c 56, Mfg f/c 53.5) are the week's only top-tier data and the main October-hike input — a materially firmer print pressures this recovery read
- A close back below the ema50 would break the higher-low chain built since the July base