Silver Futures Poised to Break Out Above Key Resistance
Silver futures have shown signs of strength after a recent reversal low near $56.87 and are currently trading around $59.32, above the Weekly VC PMI Mean Price of $58.97.
The market has transitioned from an oversold condition to equilibrium, making patience and disciplined execution crucial for traders.
According to the VC PMI methodology, statistically favorable demand zones have been identified at the Daily Buy 1 level of $57.57 and Daily Buy 2 at $56.12, representing areas where probability favors a return toward the mean approximately 90% of the time at Buy 1 and 95% at Buy 2.
The current objective is the Daily Sell 1 level at $60.02, followed by Daily Sell 2 at $61.02, with resistance increasing at Weekly Sell 1 ($61.53) on the weekly timeframe.