Silver Forecast: A Potential 10,000 Pip Surge on the Horizon!

I understand the title may seem bombastic and possibly clickbaity, but in my view, there's a solid case for XAGUSD potentially rising by $10 in 2024. Here's why:

Observing the chart, unlike XAUUSD , Silver has been trading within a range for precisely a year now, failing to establish new highs. However, on a positive note, since the pandemic low, the price has been forming higher and higher bases, suggesting the potential for building upside momentum in the longer term.

From a strictly technical standpoint, as mentioned, we've been stuck in a range for over a year, with a clear resistance level around the $26 zone. If the bulls manage to break above this significant level, considering the one-year-long accumulation, I believe we could witness an explosive rise that might propel Silver to $35, with a potential pit stop at interim resistance around $30.

코멘트:

Strong 3.5% growth on Silver
The price is near range s resistance