Silver SILVER technical analysis

SILVER trades at $52.888, up 1.21% over 24 hours above a rising 4h support trendline near 52.4957 and the 4h SMA20 at 52.4943, with 4h RSI14 at 58. The daily picture remains a downtrend below SMA20 53.7481, SMA50 59.4193 and SMA200 69.2993, though daily RSI14 sits at 36.

The active battle is against 53.03-53.78, a resistance with 8 touches, reinforced by a falling 4h trendline near 53.7407. Below, 4h supports sit at 52.6308-52.7892, 52.2958-52.4542 and 51.8628-52.0212, each with 1 touch.

Bulls need acceptance above 53.03-53.78 to challenge 54.385-54.685 (4 touches). Bears need a break of the 52.4957 trendline and 52.6308-52.7892 to test 52.2958-52.4542.