Silver Prices Hover Near Equilibrium Zone Ahead of Mid-August Cycle Decision Window

Silver prices are hovering around $64.84 after futures closed near this level, placing the market directly on the VC PMI equilibrium zone.

According to the VC PMI analysis, the critical Daily mean is $64.89 and the Weekly mean is approximately $65.17. As long as price remains below both means, the short-term structure has a neutral-to-slightly bearish bias.

The downside targets for Silver are at $63.88 (Daily Buy 1) and $62.64 (Daily Buy 2), while weekly support extends to approximately $62.21 and $61.32. A correction into these zones could be a buying opportunity, but should not be automatically interpreted as a breakdown.

On the upside, Daily Sell 1 at $66.12 coincides closely with important resistance. The recent high of $66.98 virtually tested Weekly Sell 1 at $66.99, while Daily Sell 2 stands at $67.12. A sustained breakout above this resistance cluster would expose weekly sell targets at $68.88.

The silver market appears to be entering an important mid-August cycle decision window following the recovery from late-July lows. The immediate August 14-18 period should therefore be treated as a confirmation window. Holding above $63.88 and reclaiming $65.17 would strengthen the probability of another upward cycle beginning.

The fundamentals remain divided between monetary-policy expectations and geopolitical/inflation risks, but declining expectations for an immediate Fed hike provided support to precious metals. Industrial demand remains important, particularly from solar manufacturing and electricity-grid investment.