Silver Prices Soar Above Key Resistance Zone

Silver prices have been on a strong recovery path after hitting a low of $56.705 on August 3, and are now trading near $62.39.

The market has moved decisively above the Monthly VC PMI mean at $58.84, which is considered a positive sign for the bulls.

Looking ahead, there are several cycle dates that could influence silver prices: September 1-3 (30-day cycle), October 1-3 (60-day cycle), and October 31-November 2 (90-day cycle).

The Square of 9 analysis suggests that a breakout above $63.02 would confirm additional upside momentum, with the next major target at $67.57.