Lower highs from Tuesday's 58.592 peak; 57-58 range broken, new week low.
Silver spent Monday to Wednesday ranging between 57.00 and 58.00. It printed a lower high at 58.028 after Tuesday's 58.592 spike, then broke down on Thursday. Selling ran from Asia through NY, with the sharpest leg at the NY open through the 54.991 breakdown level, and the move extended to a 54.471 week low. The digest frames this as liquidation on oil-driven inflation fears and December hike pricing. RSI(14) sits near 24 with the last few bars compressing above the week low, and price is about 85 cents below the falling EMA(20) near 55.41.
Support: 54.471, 54.00
Resistance: 54.991, 55.41, 55.646
What it said to watch
Hourly close below the 54.471 week low extends the lower-low sequence toward the 54.00 round number
Reclaim of the 54.991 breakdown level, then the ema20 near 55.41, would signal the flush is stalling
Thursday's pre-break swing low at 55.646 sits near the 38.2% retrace of the Wednesday-high-to-week-low move
S&P Global PMIs Fri 13:45 UTC and UoM inflation expectations at 14:00 UTC could materially shift this read
A new low with RSI(14) holding above its Thursday trough would mark bullish divergence
22:05 UTC
Downtrend, oversold after Thursday range break · RSI 24 · price 54.641
Mon–Wed 56.93–58.59 range broken lower; Thursday lower highs and lower lows.
Silver held a 56.93–58.59 range from Monday to Wednesday. Tuesday's NY spike to the 58.59 week high was rejected, and price slipped back under the 57.16 weekly open. Thursday's selling began in the Asia session and accelerated into the NY open on oil-driven inflation and hike pricing plus the firm 194K claims print, slicing through the 56.37 Tuesday low to a 54.47 week low with the 61.8% retracement of the Tue high–Thu low fib sitting near 57.02. A brief bounce capped at the 55.52 bounce high, just above EMA(20) near 55.50, and price is still contained by Thursday's lower-highs trendline. RSI(14) sits near 24 with no bullish divergence yet.
Support: 54.471, 54.00
Resistance: 55.518, 56.37, 57.163
What it said to watch
Fri 13:45 UTC S&P PMIs and 14:00 UTC UoM inflation expectations could materially shift this read
Hourly close back above the 55.52 bounce high, EMA(20) and the Thursday lower-highs trendline would mark the first break in the sequence of lower highs
Failure to hold the 54.47 week low extends the lower-low sequence toward the 54.00 round number
A new low with RSI(14) printing a higher low would flag rsi divergence (bullish)
The 56.37 Tuesday low and the 57.16 weekly open are the overhead levels to watch for rejection or break on any rebound
21:08 UTC
Downtrend, oversold after range break · RSI 23 · price 54.579
Mon–Wed range 56.93–58.59 broken Thursday; sequence of lower highs into week low.
Silver rotated in a 56.93–58.59 range from Monday to Wednesday. Tuesday's NY spike to 58.59 was rejected, and Wednesday's highs were capped near 58.03. Thursday's selloff broke the range floor during the Asia session, and the NY open pushed price through 55.00 as oil-driven inflation fears and a firm USD fed liquidation. Price is now printing a week low at 54.47, with each bounce capped below a falling line of lower highs and well under EMA(20) at 55.59; RSI(14) near 23 is oversold, but no base has formed yet.
Support: 54.471, 54.00
Resistance: 55.59, 56.027, 56.40
What it said to watch
An H1 close back above EMA(20) near 55.59 and the lower-highs line would be the first sign the flush is exhausting
A recovery through the 56.03 lower high, the 50% retrace of the Thursday selloff near 56.25 and EMA(50) at 56.40 would mark a structural shift back toward the old range
If the 54.47 week low gives way, the round number at 54.00 is the next visible reference
Fri 13:45 UTC flash PMIs and 14:00 UTC UoM inflation expectations could materially shift this read
Lower highs below 58; Monday–Wednesday range broken to the downside.
Silver opened the week at 57.16 and ranged 56.37–58.59 from Monday to Wednesday. Tuesday's NY spike to 58.59 and Wednesday's 58.03 high set lower highs below 58. Thursday's range break started in Asia and extended through the NY open as oil-driven inflation fears and a firm USD pushed price through the 55.38 broken supp to a 54.51 week low. Price sits well below EMA(20) and EMA(50) with RSI(14) near 23 (oversold), and each Thursday bounce has stalled at a lower high, first 56.03, then 55.52.
Support: 54.511, 54.00
Resistance: 55.38, 56.027, 57.163
What it said to watch
H1 close back above 55.38 broken supp would signal a failed breakdown and bring the 55.86 fib 38.2 of Thursday's impulse into view
Failure to hold the 54.51 week low extends the lower-high sequence toward the 54.00 round number
A break of the Thursday lower highs trendline and the 56.03 lower high would end the intraday sequence; weekly open 57.16 sits above
Fri 13:45 UTC flash PMIs and 14:00 UTC UoM 1y inflation expectations could materially shift this read
WTI vs the $98–101 zone remains silver's main inverse driver this week
19:05 UTC
Downtrend, impulsive and oversold · RSI 21 · price 54.603
Weekly range broken lower; lower highs through Thursday.
Silver spent Monday to Wednesday in a 56.37–58.59 range, capped at 58.03 on Wednesday, then broke lower on Thursday as an oil-driven inflation scare and the jobless-claims beat firmed Fed-hike pricing. The Asia session started the slide, and the NY open pushed it through the 55.00 round number. Price now sits below the 54.77 ytd low near the 54.60 day low, with RSI(14) around 21, both EMAs overhead and each bounce capped by a falling lower-high line, last at 55.52.
Support: 54.603, 54.39
Resistance: 54.77, 55.00, 55.518
What it said to watch
Hourly closes back above the 54.77 ytd low would mark a false break of the YTD floor
Failure to hold the 54.60 day low leaves 54.39 as the next level referenced below
A recovery above the 55.52 lower high and the 38.2% fib near 55.91 would end the lower-highs sequence
Fri 13:45 UTC flash PMIs and 14:00 UTC UoM inflation expectations could materially shift this read
A WTI move back toward its 101.05 high, or a de-escalation drop in crude, is the dominant swing factor for this leg
Week range broken lower; lower highs and lower lows since Thursday's Asia open.
Silver broke below the 56.37–58.59 week range during Thursday's Asia session. The slide then accelerated in the first hour of NY after the jobless claims beat, as the oil-driven inflation scare and ~90% December-hike pricing weighed on the metal. Price is now pressing the 54.77 YTD low after printing a 54.662 week low, with RSI(14) near 27 and no bullish divergence, and the lower-highs line and the EMA(20) near 55.85 have capped every bounce. The 55.52 bounce high and the 50% fib of Thursday's drop near 56.35 mark the first overhead reclaim levels.
Support: 54.77, 54.662
Resistance: 55.518, 55.85, 56.345
What it said to watch
H1 close below the 54.77 YTD low and the 54.662 week low extends the lower-low sequence
A reclaim of the 55.52 bounce high and the EMA(20) would break the lower-highs line from 56.54
Holding above the 50% fib near 56.35 would turn Thursday's drop into a retracement
Fri 13:45–14:00 UTC US flash PMIs and UoM inflation expectations could materially shift this read
Oil headlines against WTI's 101.05 five-week high remain the dominant driver of this leg
17:07 UTC
Downtrend, oversold after range break · RSI 23 · price 54.788
Mon–Wed 56.37–58.59 range broken lower Thursday; lower highs since Asia open.
Silver ranged 56.37–58.59 from Monday's 57.16 weekly open, with Tuesday's NY spike to 58.59 rejected. Thursday's leg lower began in Asia hours as the oil spike stoked inflation and Fed-hike fears, breaking the range floor and leaving an Asia shelf near 56.38. It extended in NY after the jobless claims beat (194K vs 200K): price cut through the 55.00 round number and printed a 54.66 day low, sitting on the 54.77 ytd low. RSI(14) near 23 is oversold, and price is roughly $1 below EMA(20). The only bounce so far stalled at the 55.52 bounce high, keeping Thursday's lower highs intact.
Support: 54.77, 54.662, 54.39
Resistance: 55.00, 55.518, 56.38
What it said to watch
H1 close back above the 55.00 round number and the 55.52 bounce high would mark the first stall in Thursday's lower highs
Sustained trade below the 54.77 ytd low and 54.66 day low exposes the 54.39 next floor
A break of the Thursday lower highs trendline (near 55.60) and reclaim of the 56.38 asia shelf would negate the breakdown leg
Fri 13:45 UTC PMIs (Services f/c 57.9, Mfg f/c 55.6) and 14:00 UTC UoM inflation expectations could materially shift this read
Oil headlines vs WTI's 101.05 five-week high remain the dominant driver of this leg
16:05 UTC
Downtrend, impulsive and oversold · RSI 21 · price 55.138
Range break lower; Thursday lower highs and lower lows.
Silver held a 56.37–58.59 range from Monday's 57.16 weekly open through Wednesday, with Tuesday's NY spike to 58.59 fully faded. Thursday's oil-driven inflation scare broke the range floor late in the Asia session. After the jobless claims beat, the final leg in early NY pushed price from the 55.95 breakdown point to a 54.99 week low. Price now sits well below EMA(20) near 56.07, with RSI(14) around 21 and every Thursday bounce capped by a falling lower-highs line. The 38.2% retracement of Thursday's drop at 56.15 sits next to the EMA(20).
Support: 54.991, 54.77
Resistance: 55.95, 56.07, 56.37
What it said to watch
H1 close back above the 55.95 breakdown point and the lower-highs line would mark the first pause in Thursday's selloff
Failure to hold the 54.99 week low exposes the 54.77 ytd low cited in the digest
A new low with RSI(14) holding above today's ~21 reading would set up a bullish divergence
Reclaim of EMA(20) and the 38.2% fib near 56.07–56.15 brings the 56.37 range floor back into play as resistance
Fri 13:45/14:00 UTC US PMIs and UoM inflation expectations could materially shift this read
15:05 UTC
Downtrend, oversold after range break · RSI 21 · price 55.233
Mon–Wed 56.37–58.59 range broken lower; Thursday lower highs.
Silver opened the week at 57.16 and held a 56.37–58.59 range Monday to Wednesday. Tuesday's NY-session spike to 58.59 on Iran-diplomacy headlines faded back inside the range. Thursday's Asia session broke below the 56.37 tue low and London extended the slide to a 55.65–55.80 london floor. The first hour of NY then cut through that floor to a 54.99 week low, as the oil-driven inflation scare and a 194K claims print firmed Fed-hike pricing. Price sits roughly a dollar below EMA(20) near 56.19, with RSI(14) near 21 and every Thursday bounce capped by the lower-high line.
Support: 54.991, 54.77
Resistance: 56.19, 56.37
What it said to watch
An hourly close below the 54.99 week low exposes the 54.77 ytd low cited in the digest
Recovery above the 55.65–55.80 london floor and the lower-high line would mark the first stall in Thursday's decline
EMA(20) near 56.19, aligned with the 38.2% fib at 56.15, is the first test for any bounce
Acceptance back above the 56.37 tue low would negate the range break
US PMIs Fri 13:45 UTC and UoM inflation expectations at 14:00 UTC could materially shift this read, as could Middle East oil headlines
14:04 UTC
Downtrend, impulsive leg lower · RSI 21 · price 55.202
Mon–Wed 56.37–58.59 range broken lower; lower highs from Tuesday's peak.
Silver printed lower highs at 58.59 on Tuesday and 58.03 on Wednesday, then broke the week's range through the Asia and London sessions today, losing the tuesday low at 56.37 as oil-driven inflation fears lifted yields. The first hour of NY added a 0.96 range bar to a fresh week low at 54.99 after the initial claims beat, leaving price about 200 cents (2,000 pips) below the weekly open at 57.16 and well beneath both EMAs. RSI(14) is near 21, deep in oversold territory, and the ytd low at 54.77 sits just under the session low.
Support: 54.991, 54.77
Resistance: 55.80, 56.37, 57.163
What it said to watch
A failure to hold the 54.99 week low and a break of the 54.77 ytd low would extend the lower-low sequence.
An H1 close back above the 55.80 london base would signal the NY flush is being absorbed, with the 56.37 tuesday low the next overhead reference.
Fri 13:45–14:00 UTC S&P PMIs and UoM inflation expectations could materially shift this read.
An oil reversal on Middle East de-escalation headlines would challenge the downtrend and put the 57.16 weekly open back in view.
13:05 UTC
Downtrend, range broken lower · RSI 31 · price 55.756
Mon–Wed range 56.37–58.59 broken; lower highs, fresh week low.
Silver held a 56.37–58.59 range Monday to Wednesday. Tuesday's NY spike to 58.592 on lower yields and Iran diplomacy hopes faded, and Wednesday printed a lower high at 58.03, a rejection near the 58.00 area. Thursday's slide started in the Asia session and extended through London. It cut through the Tuesday range floor at 56.37 and the 57.163 weekly open to a week low of 55.646, as an oil spike on Middle East headlines revived Fed-hike fears. Price sits well below EMA(20), near 56.44, with RSI(14) pinned around 30. Last week's prior low at 55.38 and the 55.00 round number are the next references beneath.
Support: 55.646, 55.38, 55.00
Resistance: 56.37, 57.163, 58.028
What it said to watch
H1 close back above the 56.37 range floor (EMA(20) ~56.44) would mark the break as a false break
Failure to hold the 55.646 week low exposes last week's prior low at 55.38 and the 55.00 round number
Recovery above the 57.163 weekly open (near the 61.8% fib) would put the range back in play toward the 58.03 lower high
Fri 13:45 UTC S&P Global PMIs and 14:00 UTC UoM inflation expectations could materially shift this read
Oil reversing lower on Middle East de-escalation headlines is the main risk to the breakdown structure
12:04 UTC
Downtrend, range broken lower · RSI 30 · price 55.769
Lower highs and lower lows below the 56.90–58.60 weekly range.
Silver spent Monday to Wednesday in a 56.90–58.60 range, then broke the range floor in today's Asia session. Thursday's sell-off from late Wednesday's 58.03 high has run roughly 2,400 pips as oil-driven inflation fears and firm December Fed-hike pricing weighed, and the rebound so far has produced only a lower high at 56.13. Price trades well below EMA(20) near 56.50 with RSI(14) near 30, its weakest reading of the week, and the 55.65 session low is the nearest reference ahead of last week's 55.38 prior low.
Support: 55.646, 55.38, 55.00
Resistance: 56.126, 56.37, 56.90
What it said to watch
US Initial Jobless Claims at 12:30 UTC (f/c 200K) could materially shift this read
H1 close above the 56.13 lower high breaks the lower-highs trendline
Recovery of the 56.37 tuesday low and the 56.90 range floor would mark the breakdown as a false break
Failure to hold the 55.65 session low exposes the 55.38 prior low and the 55.00 round number
11:04 UTC
Downtrend, oversold after impulsive leg · RSI 25 · price 55.818
Mon–Wed range broken lower; lower highs since Thursday's Asia session.
Silver spent Monday to Wednesday ranging roughly 57.00–58.60. Supply capped Tuesday's NY spike to the 58.59 week high, and Wednesday's late dip to 56.93 was reclaimed. The range broke during Thursday's Asia session, with a 2.25-dollar slide from Wednesday's 58.03 close-high through the weekly open and prior close to a 55.78 session low, as oil-driven inflation fears and December Fed-hike pricing weighed. Price is now compressing just above the session low beneath a 56.30–56.40 Asia shelf, with RSI(14) oversold and EMA(20) rolling over above price.
Support: 55.777, 55.38, 55.00
Resistance: 56.38, 56.977, 57.163
What it said to watch
Hourly close back above the 56.38 asia shelf and EMA(20) would break the lower-highs sequence
Failure to hold the 55.78 session low exposes last week's 55.38 prior low and the 55.00 round number
A recovery into 56.98–57.16 (prior close, weekly open, 61.8% fib) would put price back inside the old range
Higher low on RSI(14) against a new price low would flag bullish divergence from oversold
US Initial Jobless Claims at 12:30 UTC today could materially shift this read
10:04 UTC
Downtrend, impulsive leg stretched · RSI 24 · price 55.904
Range break below 56.37, lower highs since Wednesday's 58.03.
Silver spent Monday to Wednesday in a 56.37–58.59 range, with Tuesday's NY-session spike to 58.59 and Wednesday's late push to 58.03 both failing near the range top. From the Asia session today it unwound about 2.25 in a straight line, closing below the range low as a fresh crude rally on Middle East strikes revived inflation fears and kept yields firm. Price is now pinned near the 55.78 session low, well under EMA20 at 56.67, with RSI(14) in the mid-20s after 13 bars of almost one-way selling.
Support: 55.777, 55.38, 55.00
Resistance: 56.37, 56.67, 57.00
What it said to watch
Initial Jobless Claims at 12:30 UTC (f/c 200K) during NY hours could materially shift this read
H1 close back above the 56.37 range low turns the break into a false break
EMA20 near 56.67 sits with the 38.2% fib of the 58.03–55.78 leg; a pullback that stalls there keeps the lower-high trendline intact
Failure to hold the 55.78 session low exposes last week's 55.38 prior low, then the 55.00 round number
Recovery through 57.00 would reopen the old range middle and negate today's breakdown
Oversold RSI(14) leaves room for a sharp bounce if oil eases on US-Iran headlines
09:05 UTC
Downtrend, oversold after range break · RSI 29 · price 55.845
Lower highs since Wednesday; Thursday broke the weekly range base.
Silver opened the week at 57.16, held a 56.37–58.59 range through Monday–Wednesday, and topped at 58.59 in Tuesday's NY session. It then broke the range base during Thursday's Asia session as crude rallied on strikes against oil infrastructure, which revived inflation and Fed-hike fears. Price is now below the prior close at 56.98 and below both EMAs. It is stalling just above the 55.78 week low into London, with RSI(14) near 29 and the Thursday lower-highs line still capping.
Support: 55.777, 55.38, 54.77
Resistance: 56.37, 56.75, 56.977
What it said to watch
US Initial Jobless Claims at 12:30 UTC today (f/c 200K) could materially shift this read
An H1 close back above the 56.37 range base would neutralise the breakdown; ema20 near 56.75 and the fib 38.2% at 56.85 sit just above
Failure to hold the 55.78 week low exposes the 55.38 prior low, then the 54.77 ytd low
A cross of the Thursday lower-highs line from 58.03 would mark the first structural change in the slide
08:04 UTC
Downtrend, oversold after range break · RSI 26 · price 55.912
Lower highs from Tuesday's 58.59 spike; 56.37–58.59 range broken lower.
Silver broke out of the week's 56.37–58.59 range during Thursday's Asia session. It slid roughly 2,200 pips from Wednesday's 58.03 high to 55.78 as a fresh crude rally revived inflation and Fed-hike fears. Price now sits below EMA(20) and EMA(50), and RSI(14) near 26 is oversold after nine straight lower closes. Tuesday's NY-session spike to 58.59 and Wednesday's lower high at 58.03 define the lower-highs line. The former range floor at 56.37 is now the first resistance overhead, and the weekly open at 57.16 lines up with the 61.8% fib of today's drop.
Support: 55.777, 55.38, 54.77
Resistance: 56.37, 57.00, 57.163
What it said to watch
H1 close back above the range floor at 56.37 would turn the breakdown into a false break; the 57.00 round number and the 50% fib sit just above
Reclaim of the weekly open at 57.16 (61.8% fib) would neutralise the Thursday drop
Failure to hold today's low at 55.78 exposes the 55.38 3m low, then the 54.77 YTD low
US Initial Jobless Claims at 12:30 UTC today, and Friday's PMIs and UoM inflation expectations, could materially shift this read
An oil reversal on US–Iran headlines would test the lower-highs line from 58.59
07:04 UTC
Downtrend, range broken lower · RSI 29 · price 56.089
Lower high at 58.03 under Tuesday's 58.59 peak, then a break below the week's range floor.
Silver broke out of this week's 56.37–58.59 range during Thursday's Asia session, cutting through the Tue low and printing a new week low at 55.777 as oil-driven inflation fears and firm yields weighed. The drop follows a lower high: Tuesday's 58.59 NY-session spike on US–Iran diplomacy headlines gave way to Wednesday's 58.03 peak, capped beneath the lower-high trendline, and price now sits below both EMAs with RSI(14) near 29, oversold. The bounce off the week low has stalled under the old Tue low, with the Wed low and the 50% fib of the Wed high–week low leg clustered near 56.90 above.
Support: 55.777, 55.38
Resistance: 56.37, 56.93, 57.163
What it said to watch
H1 close back above 56.37 (Tue low) undercuts the range break and reopens the Wed low / 50% fib area near 56.90
Failure to hold the 55.777 week low exposes the 55.38 3m low
Initial Jobless Claims at 12:30 UTC today could materially shift this read; Tuesday showed relief moves can be sharp
Recovery above the 57.16 week open would neutralise the lower-high trendline read
Friday's flash PMIs and UoM inflation expectations are the next scheduled risk to this structure
06:04 UTC
Downtrend, range floor broken · RSI 29 · price 56.264
Mon–Wed 56.37–58.59 range broken lower in Thursday Asia; lower high at 58.03.
Silver held a 56.37–58.59 range from Monday to Wednesday. Tuesday's NY-session spike to 58.59 was followed by a lower high at 58.03 late Wednesday. Thursday's Asia session then broke the range floor as oil-driven inflation fears lifted yields and the USD, printing a 55.78 week low before a partial bounce. Price now sits well below the EMA20 near 57.04, with RSI(14) at about 29 in oversold territory.
Support: 55.777, 55.38, 55.00
Resistance: 56.37, 56.903, 57.04
What it said to watch
An H1 close back above the 56.37 range floor would turn Thursday's break into a false break
Failure to hold the 55.78 week low exposes the 55.38 3m low and the 55.00 round number
A bounce that stalls at the 56.90 fib 50% or the ema20 near 57.04 keeps the lower-highs sequence intact
US jobless claims at 12:30 UTC today and Friday's S&P Global PMIs could materially shift this read
05:05 UTC
Downtrend, range floor broken · RSI 31 · price 56.318
Lower highs from 58.59; range break below 56.37.
Silver has slid from Tuesday's 58.59 week high, which came in the NY session on US-Iran diplomacy hopes. Since then it has printed lower highs at 58.06 and 58.03 on Wednesday, after a whipsaw into the NY close. Asia session selling today did the damage, carrying price from 57.85 through the 56.37 range floor to a 56.29 week low as oil-driven inflation fears and firm yields weighed. Price now sits about 840 pips below the weekly open and EMA(20) cluster near 57.14-57.16, with RSI(14) near 31 and little bounce off the low so far.
Support: 56.289, 56.00, 55.38
Resistance: 56.37, 57.163, 58.592
What it said to watch
H1 close back above the 56.37 range floor would mark the break as a false break and return price to the week's range
Failure to hold the 56.29 week low exposes the 56.00 round number, then the 55.38 3m low
A recovery through the weekly open at 57.16 and EMA(20) would neutralise the lower-highs sequence
Initial Jobless Claims at 12:30 UTC today and Friday's 13:45 UTC PMIs could materially shift this read via yields
WTI pushing back toward its 101.05 high has coincided with silver weakness this week
04:04 UTC
Turning lower, momentum building · RSI 31 · price 56.349
Lower high at 58.03, range floor broken.
Silver spent Monday to Wednesday inside a 56.37–58.59 range, set by Tuesday's Asia low and NY-session spike, and Wednesday's rally was rejected at a lower high of 58.03. It then unwound Wednesday's late recovery through Thursday's Asia session, falling about 1,700 pips to an Asia low at 56.30 and closing below the Tuesday low. The digest ties the slide to oil-driven inflation fears and firmer yields. RSI(14) sits near 31 and price trades roughly 870 pips below EMA(20) near 57.22, while the weekly open at 57.16 lines up with the 38.2% retracement of the Tuesday-to-Thursday drop.
Support: 56.297, 56.00, 55.38
Resistance: 56.37, 57.163, 58.028
What it said to watch
An H1 close back above the tue low at 56.37 would turn the range break into a false break
Failure to hold the asia low at 56.30 leaves the 56.00 round number and the 55.38 3m low as the next reference levels
Weekly open at 57.16 and EMA(20) near 57.22 sit overhead; only a move above the lower high at 58.03 breaks the lower-highs sequence
US jobless claims at 12:30 UTC today (f/c 200K) and Friday's flash PMIs could materially shift this read
A WTI push back toward its $101.05 high has coincided with silver weakness this week
Lower high at 58.03 inside the 56.37–58.59 weekly range; price pressing the floor.
Silver has chopped between Tuesday's 56.37 week low and the 58.59 week high, set on a NY-open spike that saw immediate rejection. Wednesday's late NY push stalled at 58.03 for a lower high. The Asia session today then produced five straight lower closes to a 56.58 asia low, back under the 57.16 week open and both EMA(20) and EMA(50). The move matches the digest's oil-driven lift in yields and USD. RSI(14) at 34 is soft but not yet oversold, and the 38.2% retrace of the Tue–Thu decline near 57.35 sits close to EMA(20).
Support: 56.58, 56.37, 55.38
Resistance: 57.163, 58.028, 58.592
What it said to watch
H1 close below the 56.37 week low breaks the range floor and exposes the 55.38 3m low
Recovery back above the 57.16 week open and the 38.2% retrace near 57.35 restores the mid-range read
Close above the 58.03 lower high breaks the lower-high trendline and reopens the 58.59 week high
Thu 12:30 UTC jobless claims (f/c 200K) and Fri 13:45/14:00 UTC PMIs and UoM inflation expectations could materially shift this read
Lower highs from 58.59 inside a 56.37–58.59 range; rising lows under test.
Silver has chopped in a 56.37–58.59 range since Tuesday's Asia low. Tuesday's NY spike to the week high was rejected, and Wednesday's late bounce stalled at a 58.03 lower high, as firm yields and oil-driven Fed-hike bets capped rallies. Thursday's Asia session has unwound that bounce, taking price back below the ema20 (57.44) and the weekly open (57.16) and onto the 56.93 swing low, about 72% into the Tuesday rally fib, with RSI(14) near 39.
Support: 56.93, 56.37
Resistance: 57.16, 57.44, 58.03
What it said to watch
An H1 close below the 56.93 swing low breaks the rising lows line and exposes the 56.37 week low
A recovery above the weekly open at 57.16 and the ema20 at 57.44 restores the mid-range read
A close above the 58.03 lower high breaks the lower highs trendline, with 58.59 as the range cap
US Initial Jobless Claims Thu 12:30 UTC (f/c 200K) could materially shift this read via yields and USD
01:06 UTC
Sideways, range contracting · RSI 44 · price 57.225
Lower highs from 58.59, higher lows from 56.37, tightening range.
Silver spiked to the 58.59 week high in Tuesday's NY session after soft US housing data, then failed to hold it. Since then, lower highs near 58.06 and 58.03 and higher lows at the 56.37 week low and 56.93 swing low have defined a tightening range, with firm yields and USD capping each rebound near 58.00. Thursday's Asia session has unwound Wednesday's late rebound, putting price back below a flat ema20/ema50 pair near 57.49 and onto the 61.8% fib of the Tuesday rally at 57.22, just above the 57.16 weekly open, with RSI(14) at 44 in mid-range.
Support: 57.163, 56.93, 56.37
Resistance: 57.49, 58.03, 58.592
What it said to watch
H1 close below the 56.93 swing low breaks the higher-low sequence and exposes the 56.37 week low
Close back above ema20 near 57.49 and through the 58.03 lower-high line reopens the 58.59 week high
Loss of the weekly open at 57.16 shifts focus to last week's 56.98 close
US Initial Jobless Claims Thu 12:30 UTC (f/c 200K) and PMIs Fri 13:45 UTC could break the range in either direction
00:04 UTC
Sideways, range contracting · RSI 51 · price 57.455
Lower highs from 58.59 and higher lows from 56.37 since Tuesday.
Silver spiked to the 58.59 week high in Tuesday's NY session on softer US housing data and Iran headlines. Rising US yields and a firmer dollar then capped Wednesday at a 58.03 lower high, while late-NY dips held a 56.93 higher low above the 56.37 week low. Thursday's Asia fade has price back near 57.48, the 50% retracement of the Tuesday rally, just under the ema20, with RSI(14) flat near 51 and the week open at 57.16 below.
Support: 57.163, 56.93, 56.37
Resistance: 58.03, 58.592
What it said to watch
H1 close above the 58.03 lower high breaks the lower-highs trendline and puts the 58.59 week high back in play
Failure to hold the 56.93 higher low breaks the higher-lows trendline and exposes the 56.37 week low
Holding below the ema20 keeps price pinned to the lower half of the Tuesday rally fib, with the week open at 57.16 next
Initial Jobless Claims (Thu 12:30 UTC) and Friday's flash PMIs could materially shift this read