Silver Futures Surge: Targets Set at $72.26, $74.98
Silver futures have entered a renewed bullish momentum phase, closing near $69.01 after recovering sharply from the weekly low of $62.45 and reaching an intraday high of $70.08.
The price has decisively broken above both the Weekly VC PMI mean at $67.35 and Daily VC PMI mean near $69.19, placing silver at an important breakout threshold.
According to analysis, the primary equilibrium levels are $69.19 Daily and $67.35 Weekly. Holding above $69.19 strengthens the probability of continuation toward Daily Sell 1 near $70.42, followed by Daily Sell 2 near $71.31. Above these levels, the larger weekly targets become Weekly Sell 1 at $72.26 and Weekly Sell 2 at $74.98.
Corrections should initially find support around Daily Buy 1 at $68.30 and Daily Buy 2 at $67.07. The 67.07-67.35 zone represents particularly important technical support because the Daily Buy 2 and Weekly mean converge there. A sustained break below this area would weaken the immediate bullish structure.
The recovery from $62.45 appears to represent a completed short-term corrective cycle followed by a new expansion phase. The next important cycle window extends through August 24-28, when momentum could accelerate or produce a temporary reaction from resistance. Attention then shifts toward the September 2026 delivery/expiration cycle, particularly late September.
From a Gann Square of 9 perspective, the psychological $70 area represents a major vibration point. Acceptance above $70.08 increases the potential for price expansion toward approximately $71.30, $72.25 and $75, remarkably close to the VC PMI resistance structure. This confluence strengthens the importance of the 72.26-74.98 target zone.
Fundamentals remain constructive. Silver finished the week around $69.47, gaining approximately 6.9%, while a weaker U.S. dollar, fiscal/debt concerns and changing monetary-policy expectations supported precious metals. Silver also continues to benefit from its dual role as both a monetary and industrial metal.