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23.09.202210:25 Forex Analysis & Reviews: Analysis of Silver for September 23,.2022 - Fake breakout of the triangle and potential for bigger drop

Technical analysis:

Exchange Rates 23.09.2022 analysis

Silver has been trading downside this as I expected. There is the potential for the bigger breakdown and lower prices.

Trading recommendation:

Due to the fake breakout of the triangle in the background and strong reversal, I see potential for further drop.

Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $18.78 and $18.53.

Stochastic oscillator is fresh bear cross, which is another sign for the downside movement.

Key resistance is set at the price of $20

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Petar Jacimovic,
Analytical expert of InstaSpot
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