Commodities
Silver Price Plunges Below Key Resistance, Exposes Deeper Correction
Silver futures plummeted on Friday, closing at $67.10 after reaching an intraday high of $72.05 and falling to a low of $66.83.
The price reversal pushed below the VC PMI mean at $68.89, shifting momentum to bearish and putting lower VC PMI targets in focus.
Analysts point to the importance of this resistance level, noting that as long as silver remains below it, the short-term bias favors testing Buy 1 at $65.73.
A penetration of Buy 1 would expose Buy 2 at $63.67, a deeper 95% probability reversion zone under the VC PMI framework.