Jordan Roy-Byrne: Silver Must Hold This Level

The Daily Gold, Released on 11/22/23

As long as Silver continues to hold $22 on a monthly and quarterly basis, then the probability favors a test of $25 resistance and eventually $26-$27. The most important level is $26-$27 because it is the 50% retracement from long-term lows at $1, $2 and $3. First things first, Silver continuing to hold above $22 increases the probability it will test $25-$26.

Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.

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