FX.co ★ Analysis of Silver for October 05,.2022 -Extreme upside condiiton and potential for bigger downside movement

Technical analysis:

Silver has 2 big up days in the background and market went way to fast way to far, which can open opportunity for the reversion to the mean to the downside.

Trading recommendation:

Due to extreme upside condition on the Silver, I see potential for the downside movement.

Watch for the potential selling opportunities on the rallies with the downside objectives at 19346 and 19.20.

Stochastic oscillator had 3 pushes up in the background, which is good sign for further downside movement.

Key resistance is set at the price of 21.18