Silver prices remain in a bullish intermediate-term structure following a reported rebound from a $62.45 low to $70.08, but are consolidating near equilibrium. According to technical analysis, the 15-minute chart shows silver trading near $68.69, effectively testing the Daily VC PMI (Variable Changing Price Momentum Indicator) mean after failing to sustain a move above $70.
The Daily VC PMI at $68.69 serves as the immediate pivot. The analysis indicates that holding and closing above this level maintains upside momentum toward Daily Sell 1 at $69.98, followed by Daily Sell 2 at $71.29. A confirmed breakout above $71.29 would open the path to larger weekly objectives at Weekly Sell 1 ($72.26) and Weekly Sell 2 ($74.98).
On the downside, Daily Buy 1 at $67.38 represents the first support level, nearly overlapping the Weekly VC PMI mean at $67.35, forming a critical support cluster. Daily Buy 2 at $66.09 marks the next downside extreme, while Weekly Buy 1 at $64.63 serves as major secondary support.
The preferred strategy, per the analysis, remains to buy corrections rather than chase strength, particularly while silver holds above the weekly mean. The recovery from $62.45 to $70.08 represents an estimated 12% expansion according to the calculations cited, followed by consolidation. The reported August 24–28 cycle window is highlighted as a key period for determining whether this consolidation transitions into another acceleration phase or a deeper mean reversion.
According to the reviewed methodology, Gann Square of 9 relationships are cited as reinforcing $70 as a psychological and geometric pivot. The analysis suggests that sustained acceptance above the $70.08 swing high would align with the VC PMI progression toward $71.29, $72.26, and approximately $74.98. Conversely, failure at $70 keeps the $67.35–$67.38 zone as the principal reversion area.
Fundamentally, silver continues to benefit from its dual role as both a precious and industrial metal. Recent strength has been linked to dollar weakness, fiscal concerns, and Federal Reserve policy expectations, while industrial demand tied to solar, electric vehicles, and data-center infrastructure remains supportive.
The next major macro catalyst is the U.S. PCE inflation data release on August 26, which could influence rate expectations, Treasury yields, and the dollar. Reports indicate COMEX silver settled at $68.636 on August 25, confirming proximity to the VC PMI equilibrium level shown on the chart.
The technical structure favors buying corrections while silver remains above $67.35. A breakout through $69.98–$70.08 strengthens the case for targets at $71.29, $72.26, and $74.98. A break below $67.35 would shift attention toward $66.09 and $64.63.
