Silver Futures Eye Breakout to $70.95 as VC PMI Shifts Cautiously Bullish

Silver futures have been consolidating after a sharp decline from the recent high of $72.05 to $65.83, bringing price back toward the VC PMI's lower value zone.

According to analysis, the Daily VC PMI mean at $66.97 is the immediate equilibrium level, and with /SI currently trading above the mean, the short-term bias has shifted to cautiously bullish.

The first upside objective is Daily Sell 1 at $68.11, followed by Daily Sell 2 at $69.32, while a breakout above $68.11, $69.32 would strengthen the probability of a move toward $70.95 and potentially $74.11.