In the Daily chart below, we see how Silver intraday's High is the 23.6% retracement of yesterday's Daily range and the intraday Low is the 50.0% retracement of the same Daily range. The High and Low coincide with the retracement levels down to one-tenth of a cent, indicating this was a very technical trade.
In the Weekly chart below, we see how Silver is orbiting the 17.463 level, representing the 23.6% retracement of the range from late August (19.888) through early October (16.676). Silver needs to form a base above this level to be constructive to the upside.
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