21:08 UTC
Transitioning, rally stalled below prior highs · RSI 48 · price 64.327
Lower highs since Aug 28 above rising trend support.
Silver climbed from the July 17 low at 54.76 to an Aug 28 peak at 71.17, the aug high, retracing about 68% of the decline from the late-May high. It has printed lower highs since, and the twin highs near 67.53 were rejected this week. Blowout US PMIs and a hawkish Fed chorus knocked price back below the flat ema20/50 cluster near 65.10, leaving it pinned between that and rising trend support near 63.40, with RSI a neutral 48. Below that, the sept floor at 62.30 sits just above the fib 61.8 of the July–August rally at 61.02.
Support: 63.40, 62.30, 61.02
Resistance: 65.10, 67.53, 71.17
What it said to watch
- A daily close below rising trend support near 63.40 would break the higher-low sequence from early August and expose the sept floor at 62.30.
- Failure to hold the sept floor at 62.30 opens the fib 61.8 at 61.02 and turns the multi-week consolidation into a deeper retracement.
- A daily close back above the ema20/50 cluster near 65.10 would ease the breakdown read. The twin highs at 67.53 mark the lower highs line, and only a close above the aug high at 71.17 resets the structure.
- Friday's UoM inflation expectations, Durable Goods and Williams/Hammack Fedspeak could materially shift this read via yields and October hike pricing.