Before Silver's move higher yesterday to its highest level since 24 September, we see how the Daily Low of 17.02 was just below the 61.8% retracement of the then-October range.
When we extend retracement lines higher from yesterday's Daily Low of 17.02, we see that yesterday's Daily High was right around a key intraday upside extension price objective. We see how and why 17.80 was an upside price objective and how Silver's move became exhausted there and was unable to test 18.14.
Our Monthly chart below identifies some key upside retracement levels and price objectives.
Upside price objectives remain 17.97, 18.54, 18.77, and 19.11.
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