Silver Price Prediction: XAG/USD Bulls Anticipate a Sustained Break Above the $32.55 Resistance

Silver Price Outlook: XAG/USD Rebounds Toward $32.40, Bulls Eye Break Above $32.55

Silver (XAG/USD) recovered from an early Asian session dip near the $32.00 level, climbing toward the upper range of its intraday movement. Currently trading around $32.35-$32.40, the white metal remains flat on the day but still lags behind last Friday’s multi-month high.

Over the past two weeks, silver has been consolidating within a familiar range, maintaining its broader uptrend despite occasional spikes. This price action suggests a bullish consolidation phase, reinforced by positive daily chart oscillators that indicate the path of least resistance remains upward.

However, for a sustained rally, XAG/USD must first break through the $32.55 resistance level. A successful move above this barrier could open the door for gains toward $33.00, followed by last Friday’s swing high of $33.35-$33.40. Further upside targets include the psychological $34.00 mark, an intermediate hurdle at $34.45, and the multi-year peak of $35.00 reached in October.

Key Levels to Watch:

• Support: $32.00
• Resistance: $32.55, $33.00, $33.35-$33.40, $34.00, $34.45, $35.00

Stay tuned for the latest silver price updates and market trends.