Silver SILVER technical analysis

Silver remains in a daily downtrend below its SMA20 at 59.6619, with the 4h RSI at 56 against a weaker daily RSI of 39. Price sits just above the 4h SMA20 of 57.5665, so momentum is stabilizing intraday but not yet reversed on the higher timeframe.

The active battle is between the rising 4h trendline near 57.1257 (3 touches) and the 4h resistance at 57.9233-58.0967 (1 touch), backed by the falling 4h trendline near 58.6029 (3 touches). Support at 56.8958-57.0692 has 2 touches; daily support at 57.035-57.25 has 3.

Bulls would need acceptance above 58.0967 and then 58.6029 to challenge 58.6583-58.8317. Bears need a break below 57.1257 and 57.035-57.25 to target 56.4233-56.5967.