FX.co ★ Analysis of Silver for September 22,.2022 - Fake breakout of the triangle and potential for bigger drop

Technical analysis:

Silver has been trading upside in the background after the yesterday's FOMC but I found big fake breakout to the upside and potential for the downside movement.

Trading recommendation:

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

Watch for the potential selling opportunities on the upside extremes and intraday rallies.

Downside objectives are set at the price of 18.78 and 18.55.

MACD oscillator is showing neutral condition, which is sign prior to the bigger breakout.

Key resistance is set at the price of $20.00