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Silver futures are at a fascinating crossroads as the market consolidates around $46.36 following a sharp retreat from the recent $47.41 high. This area is no ordinary retracement—it represents the intersection of key Fibonacci levels, VC PMI pivots, and powerful time and price harmonics that suggest we are at the threshold of a larger move.
The first observation is how tightly price is gravitating around the VC PMI mean of $45.66. This level does not stand in isolation; it aligns perfectly with the 50% Fibonacci retracement from the $43.88 low to the $47.41 high. In the language of mean reversion, this is the battlefield where buyers and sellers must decide the next directional phase. Daily Buy 1 at $46.31 has already been tested, with price oscillating around it, while Daily Buy 2 at $45.72 coincides almost exactly with the VC PMI mean, reinforcing the magnetism of this price band.
From a weekly perspective, the $44.37 Buy 1 support offers a cushion should the market extend its correction further, while Weekly Sell 1 at $47.95 remains the overhead barrier for any sustainable rally. Together, these levels create a well-defined trading envelope. A sustained close above $46.92, the 23.6% retracement, would confirm that buyers are regaining control and set the stage for a retest of $47.41 and ultimately $49.24, the next Square of 9 harmonic. Conversely, a break below $45.66 would expose silver to deeper retracements at $45.25 and $44.65, levels that align with both Fibonacci and Gann projections.
Cycles add further weight to this inflection point. The 30-day Gann rhythm indicates the market is cresting at a short-term high, with the next cycle low projected between October 15 and 18. This suggests a period of corrective activity or consolidation before the next push higher. Meanwhile, the 360-day cycle anniversary low from September 2024 anchors the market in a powerful long-term uptrend. As long as $43.88 holds, the probability of a year-end surge toward the $50–52 zone remains high.
The updated Silver Futures (/SI) chart with:
- VC PMI levels
- Fibonacci retracements
- Square of 9 harmonic target ($48.75)
- Gann cycle markers (Sept 28 = 360-day anchor, Oct 15 = 30-day cycle low window)
This chart above aligns and highlights the harmonic “battle zones” at $45.25–$45.66 (support) and $47.41–$49.4 (resistance/extension).
The Square of 9 harmonics validate these dynamics with uncanny precision. The recent high of $47.41 struck the 180° resistance almost to the tick, while current support rests near the 270° level of $45.25. This harmonic symmetry highlights how critical the coming sessions will be: will silver stabilize above $46 and turn back toward $48, or will it slip into the deeper accumulation range between $44 and $45?
In sum, silver is in the midst of a decisive pause within a broader bullish framework. Traders should watch the $45.66 pivot as the immediate fulcrum. Holding above this level opens the path to higher highs, while breaking below it may offer strategic re-entry opportunities near the Gann and Square of 9 supports before the larger cycle propels prices toward $50 and beyond.
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TRADING DERIVATIVES, FINANCIAL INSTRUMENTS AND PRECIOUS METALS INVOLVES SIGNIFICANT RISK OF LOSS AND IS NOT SUITABLE FOR EVERYONE. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.