Silver Consolidates Above Key Technical Levels as Bulls Eye $61.88

Silver futures are trading near $59.89 after a strong recovery from the recent low of $56.705. According to technical analysis, the metal is consolidating above the Daily VC PMI mean near $59.58 and challenging the Weekly Sell 1 level at $59.84.

This area represents an immediate decision point for the next directional move in silver prices. The Daily VC PMI identifies Sell 1 at $60.96 and Sell 2 at $61.68, while on the weekly structure, Sell 1 is $59.84 and Sell 2 is $61.88.

A sustained close above $59.84 would strengthen the bullish momentum and open the door toward $60.96, followed by a major resistance cluster between $61.68 and $61.88. The Square of 9 perspective also indicates that the $60, $62 region is an important rotational resistance zone.