Silver Futures Trade Near $65.16 Amid Constructive Technical Structure
Silver futures are trading in a constructive technical structure after last week's recovery from the $59.62 swing low, according to Investing.com Nigeria.
The market is currently near $65.16, below the Daily VC PMI Mean Price of $65.37, placing price in a neutral-to-bullish position as it awaits confirmation from momentum.
The Variable Changing Price Momentum Indicator (VC PMI) algorithm indicates that 64.04-63.15 is the optimal accumulation zone for buyers, with a 90% probability of reversion back toward the Daily Mean if they step in this area.
The current market remains within an important 90-day harmonic cycle that began from the recent capitulation low, and Square of 9 geometry suggests that the present consolidation is forming the base for the next expansion phase.