FX.co ★ Analysis of Silver for September 29,.2022 - Breakout of the downside channel in the background

Technical analysis:

Gold has been trading upside in the background and I found breakout of the supply trend-line and recent swing highs, which is good sign for further rally.

Trading recommendation:

Due to the strong upside momentum yesterday on Gold, I see potential for further upside movement.

Watch for the potential buying opportunities on the intraday dips with the key support at $1.640

Upside objective is set at the price of $1.661

Stochastic oscillator is showing bullish divergence and extreme downside condition, which is good sign for further rally.