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

1 Nis 2024

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.

2 Nis 2024

Not

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

10 Tem 2024

Not

XagUsd seems to have finished correction
Now the recent high is in focus and 35usd mark after, fulfilling my 10k pips rise prediction from April second