Silver Prices Soar Above $61.88 Resistance Level

Silver prices have continued to demonstrate strong upside momentum, breaking above several VC PMI resistance levels and confirming a shift in short-term price structure to bullish.

The market's recent advance has brought it near $62.27, with the next key technical development being the breakout above the Weekly Sell 2 level at $61.88.

This breakout converts former resistance into an important support zone, and as long as silver remains above the Daily VC PMI mean of $61.64, the market favors buying corrections over aggressively initiating shorts.

The next upside objectives are the Daily Sell 1 level at $63.57 and the Daily Sell 2 level at $65.04, with the chart already registering an intraday high near $63.02.