SILVER Tested Major Technical Downside Target Last Week and Technical Trading Continues Today

Our YouTube video illustrates Silver's test of a major downside target last week after 30 cents of stops were elected on 30 September. We also see how technical Buying took place on Friday with some technical selling today at a short-term level.

Silver triggered more than 30 cents of stops on 30 September after the 17.18 level (red horizontal line in 60-minute chart below) was reached.

When we draw some retracement extension levels from a relative High in late August, we reach a technical exhaustion point at 16.69, just above last week's Weekly Low. This is seen in the following Daily chart.

Looking at last week's Weekly Low through last week's Weekly High, we can see why technical Buying took place on Friday around 17.20 in the Daily chart below.

Finally, when we look at the range from last week's Weekly High through Friday's Daily Low, we can see why technical Selling took place around the 17.59 level today.

Upside price targets include 17.82, 18.54, and 19.11.


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