Commodities
Silver Breakout Ignites: $70.69 Opens Door to $72.26, $74.98
Silver prices have broken out of their recent range and are now poised to reach even higher levels, according to technical analysis.
The metal's price has surged past $70.08, a previous swing high, and is challenging the Daily Sell 2 target at $70.69. This break above $68.42, the Daily VC PMI mean, is seen as bullish for short-term prospects.
A sustained breakout above $70.69 could accelerate the move towards Weekly Sell 1 at $72.26 and potentially Weekly Sell 2 at $74.98. However, corrections should initially find support around $69.36 and $68.42.