In our YouTube video and post from 16 October, we identified US$ 18.14 as an upside price objective from the retracement extension range related to the low of 15 October. In the Daily chart below, we can see several instances when Daily Lows have been right around retracement levels (blue up arrows) and Daily Highs have been right around retracement levels (orange down arrows).
As we can see on the Weekly chart below, technicians will want to see if Silver can register a Weekly Close above 17.10/ 17.24/ 17.37/ 17.54 if it cannot register a Close above 17.82.
The Monthly chart below is a key reminder about how much we have depreciated and upside price objectives, above which stops are likely positioned.
Upside price objectives include 17.82, 18.14, 19.89, and 20.85.
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