Silver Technical OutLook

The rise from 10.59 has extended beyond the 11.77 peak from Sep 28, giving the larger corrective force from 10.47 room toward 12.20.
This level marks the .618 retracement of the large 13.27-10.47 decline, and only a move above it would shift odds away from categorizing the action from 10.47 as a correction.

Initial resistance is nearby at 11.89. There the current rise from 10.59 would equal the distance traveled in the first leg from 10.47 to 11.77.

Looking ahead, a break of mild support at 11.07-a small reaction low from Oct 11-would relieve upward pressure for now, shifting focus back down toward the 10.59 to 10.47 support levels, fro the Oct 4 and Sep 15 lows, respectively.

Upward potential through 11.89 would target 12.20, while a break of 11.07 would take the steam out of the corrective rise.