Silver futures closed near $67.34 after rebounding from a September 1 low of $63.88, pushing into resistance that could open a path toward $68.89 and $70.95. A positive MACD reading backs the recovery, but confirmed closes above resistance on rising volume are needed to hold it.
Silver tests resistance after sharp rebound
Silver futures closed near $67.34, rebounding sharply from the September 1 low of $63.88. On the 15-minute chart, price recovered above the daily VC PMI mean of $65.15 and the Daily Sell 1 level at $66.49, putting the short-term structure in a bullish momentum configuration.
The metal is now challenging Daily Sell 2 resistance at $67.53. A sustained close above that level would strengthen the breakout and expose the weekly VC PMI mean at $68.89, followed by Weekly Sell 1 at $70.95. Failure to hold $66.49, however, would signal declining momentum and could produce a reversion toward $65.73, the Weekly Buy 1 level.
Where support and resistance sit
The VC PMI framework identifies statistically derived zones where price may revert toward its mean, so traders should avoid chasing strength directly into resistance. Long positions may be protected or partially reduced near $67.53, $68.89, and $70.95, while corrections holding $66.49 or $65.73 may offer more favorable risk-to-reward setups.
Below the daily mean, support appears at Daily Buy 1 of $64.11, followed by Weekly Buy 2 at $63.67 and Daily Buy 2 at $62.77. A break beneath $63.67 would weaken the recovery and reopen the lower support zone. Separately, Square of 9 analysis reinforces the $67.50–$68.00 band as immediate rotational resistance, with $68.90 and $70.95 as the principal upside objectives and $65.15, $64.11, and $63.67 forming the key geometric support cluster.
Cycle windows point to September dates
Cycle analysis highlights September 1–3 as an important reversal window, consistent with the recovery from $63.88. The next timing windows to watch fall around September 7–9, September 14–16, and September 28, the latter marking the broader annual cycle date. These dates represent potential changes in trend or volatility, not guaranteed highs or lows, and confirmation must still come from price behavior at the VC PMI levels.
The positive MACD reading supports the recovery, but confirmation requires continued closes above resistance with expanding volume and disciplined risk management. Fundamentally, silver remains influenced by Federal Reserve expectations, real interest rates, the U.S. dollar, industrial demand, investment flows, and geopolitical risk, while strong solar, electronics, and electrification demand supports the long-term case even as dollar strength or higher real yields could generate volatility.
Source: Commodities Analysis & Opinion
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