Silver is attempting to stabilize after a five-day slide from $68.055 to a $60.63 low, with a rebound to roughly $61.73 now testing a resistance cluster near $62.51-$62.84. The technical picture stays tied to the Federal Reserve's next moves and upcoming inflation and jobs data, which could shift the metal's direction quickly.
Silver is attempting to stabilize after a sharp five-day decline. Futures dropped from $68.055 to a $60.63 low. The metal then rebounded to roughly $61.73, according to Investing.com's technical read of the 15-minute futures chart. That recovery is constructive, but price remains below the weekly VC PMI mean of $65.47. The immediate question is whether buyers can reclaim daily resistance or the rebound fades within the broader decline.
Resistance Cluster Ahead
The daily VC PMI mean sits at $61.23, and holding above it keeps the near-term recovery intact. The first upside test is Daily Sell 2 at $61.83. Next comes Daily Sell 1 at $62.51, followed by Weekly Buy 1 at $62.84. This tight cluster could act as resistance, and a sustained move above it would improve the case for a return toward the weekly mean. Beyond that, the chart marks Weekly Sell 1 at $67.44, with Weekly Sell 2 further out at $70.07.
Downside Levels to Watch
On a pullback, the chart flags Weekly Buy 2 at $60.87. Daily Buy 1 sits near $60.55, close to the observed $60.63 low. A break beneath that support area would weaken the rebound and put the approximately $59.85 Daily Buy 2 line in focus. The chart's MACD has turned modestly positive, but price confirmation matters more than a single momentum reading.
Cycle Dates and Fundamentals
The September 28 anniversary of the tracked 360-day silver cycle anchor has just passed, and the analysis treats September 28 through October 2 as a potential turn or acceleration window, with the next roughly 30-day observation near October 28. A cycle date identifies a time to watch, not the direction of the move. Using $60.63 as the calculation anchor, Square of 9 quarter-turn levels sit near $58.70 and $62.59, with half-turn levels near $56.80 and $64.58 — the analysis notes these are calculated reference prices, not independent evidence silver will trade there. Rising Treasury yields and uncertainty about the Federal Reserve's next steps have pressured non-yielding metals, and upcoming inflation and employment data could quickly shift rate expectations and silver's direction.
Source: Investing.com
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