The Daily Gold, Released on 6/7/23
In this video we evaluate the key support and resistance levels for Silver and comment on its net speculative position and open interest. The key resistance levels are $26 and $27-$28 with $22 and $20.50 being the key support levels. In the bigger picture we can simplify with $27 as resistance and $20.50 as support. Open interest and the net speculative position both made a significant bottom in 2022.
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.