Silver Price Faces Resistance at $62.84 as Recovery Falters

The silver price has been attempting to stabilize after a sharp five-day decline. The futures chart shows a move from $68.055 to $60.63, followed by a rebound to approximately $61.73.

This recovery is constructive but the price remains below the weekly VC PMI mean at $65.47. The immediate question is whether buyers can reclaim daily resistance or if the rebound fades within the broader decline.

The daily VC PMI mean is $61.23, and holding above it keeps the near-term recovery intact. The first upside test is Daily Sell 2 at $61.83, followed by Daily Sell 1 at $62.51 and Weekly Buy 1 at $62.84.