21:02 UTC
Downtrend from Jan blow-off, basing into May · RSI 48 · price 77.407
Lower highs since 121 peak, holding 67-70 zone twice.
Silver remains in a multi-month downtrend after the late-January blow-off top near 121 collapsed to 64 within days, with subsequent rallies stalling at progressively lower highs (94, 89, 86.50). Price has built a two-month base in the 67-86 zone, with the 67-70 area defended twice in February and March. Last week's rejection from 86.50 and slide back to 75 keeps the bearish structure intact, though RSI(14) near 48 and price holding the EMA20 reflects a market in balance rather than active distribution.
Support: 72.80, 67.90
Resistance: 86.50
What it said to watch
- Daily close below 72.80 swing low reopens the 67.90 base
- Reclaim of 86.50 May high would break the lower-high sequence
- EMA50 still sloping down — trend filter remains negative