Silver futures pulled back from $68.105 to $63.505 over a five-day window before rebounding toward the daily VC PMI mean of $64.77. Traders are now watching the September 28-30 window, an annual cycle anchor date, for confirmation of the recovery or a resumption of the decline. Defined support and resistance bands sit close on both sides of the current price.
Silver rebounds toward its VC PMI mean
Silver futures fell from $68.105 to $63.505 during a five-day window, according to the September 25 chart. The market has since tried to stabilize: the last visible price sat near $64.71, close to the daily VC PMI mean of $64.77. A rebound from the low on Friday pushed silver back toward that mean, but the chart has not yet shown a sustained move above it.
Support and resistance levels are tightly stacked around the current range. On the downside, the daily Buy 1 sits at $63.89, followed by daily Buy 2 at $62.98 and weekly Buy 1 at $62.84 — a cluster described as the key test if the rebound fades. A break beneath it would expose weekly Buy 2 at $60.87.
On the upside, daily Sell 2 at $65.61 and Sell 1 at $66.42 form the first resistance zone. A sustained recovery through those levels would bring weekly Sell 1 at $67.44 into view, followed by weekly Sell 2 at $70.07.
Square of 9 levels line up with chart support
Using $64.71 as the Square of 9 anchor, the standard square-root calculation gives 22.5-degree levels at $62.71 and $66.74, and 45-degree levels at $60.75 and $68.79. The $62.71 level sits near weekly Buy 1, while $66.74 lies just above daily Sell 1. These are reference zones, not independent forecasts.
The September 28 annual silver cycle anchor falls on Monday, one year after the September 28, 2025 anchor. Traders are watching September 28-30 for a change in direction or confirmation of the current move, with 30-, 60-, and 90-day follow-up checkpoints falling around October 28, November 27, and December 27. Cycle dates mark periods to observe; they do not establish whether a high or low will occur.
Underlying the technical picture, the Silver Institute forecast a sixth consecutive annual market deficit in 2026, a supply constraint that continues to support the metal. Interest-rate expectations, Treasury yields, the dollar, and industrial demand can still drive sharp short-term moves regardless of that backdrop.
Source: Investing.com Analysis & Opinion
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