Piercing or Critical For Magic Attacks?

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Is there a way to boost my magic damage?
Celestial Weapons ignore physical but not magical defense, or custom weapons can have the Piercing ability applied to them.
Physical attacks can also get critical damage.
Is there a "Piercing ability" or critical hit for magic attacks?
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Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Erik Mclean, Erik Mclean, Ron Lach, imustbedead