22:49 UTC
Downtrend, accelerating into oversold · RSI 21 · price 49.342
Lower highs and lower lows since the Aug 28 peak at 71.17; yearly range floor broken.
Silver has printed lower highs every one to two weeks since the Aug 28 peak at 71.17 and sits well below a falling EMA(50). Thursday's close through the 52.66 range floor and Friday's 3.4-point drop to a 48.85 weekly low came after the hawkish Fed hold and a firm Q3 GDP beat kept December hike pricing near 75%. RSI near 21 marks a real oversold reading, but the descending trendline from the September highs remains intact and the oct low at 55.39 is now well overhead.
Support: 48.851, 48.64
Resistance: 50.00, 52.657
What it said to watch
- ISM Manufacturing and Prices Paid on Mon Nov 2 could materially shift this read via December hike odds
- A daily close back above the 50.00 round number would mark the first pause in the leg lower
- A reclaim of the 52.66 range floor would undercut the range break; rejection there keeps the lower-high sequence intact
- Failure to hold the 48.85 weekly low exposes the nov 2025 low at 48.64
- A close above the September descending trendline and the 23.6% retrace of the Aug-Oct drop near 54.10 would be the first structural change