FX.co ★ Analysis of Silver for September 28,.2022 - Downside taarget almost reached, still strong downside pressure

Technical analysis:

Silver has been trading downside as I expected and the price almost reached my my downside objective at $17.96. Anyway, I still see potential for further drop due to strong downside momentum

Trading recommendation:

Due to the strong downside pressure in the background and rejection of the supply trend-line, I see potential for further downside movement.

Watch for the potential selling opportunities on the intraday rallies with the downside objectives at the price of $17.96 and $17.54

MACD oscillator is showing fresh downside momentum, which is strong sign that sellers are in control.

Resistance is set at the price of $18.67