Tuesday, October 14, 2014

SILVER's Daily range Tight but Very Technical

Our YouTube video illustrates Silver's very tight but very technical intraday range. 

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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