Silver Tug-of-War: Can Buyers Defend $65 and Set Up Breakout to $70.87?

Silver prices are locked in a tight range near $66 as September trading begins. Analysts are watching to see if the metal can hold above its key support level at $65, which has been tested repeatedly over the past week.

The $65 floor held firm last Friday, when silver dipped intraday to $64.74 but closed back above the line. This move is being seen as a possible 'fake breakdown' by Fthegurus, an independent market analyst who publishes daily technical studies on X. Another solid close above support is needed before the bullish setup can be trusted.

If silver loses $65 on a closing basis, the next downside targets come into view at $63, followed by the psychologically important $60 level. Bulls face a more immediate hurdle in the form of resistance near $67, which has repeatedly rejected upward moves.