Silver’s Explosive Move: Why Buying Dips Below $33 Could Pay Off

20 paź

After a minor correction at the start of last week and two days of tight range consolidation, XAGUSD surged on Friday, gaining approximately 2000 pips.
More importantly, though, it broke above the key resistance zone at 32.35-32.50, in what appears to be an attempt to catch up with Gold’s performance.

As mentioned in my previous analyses, my target for Silver remains around the 35 resistance level.
Now, with this decisive breakout to the upside, it looks like 35 could be the next target in the coming week.

Given this setup, a strong strategy would be to buy on dips, ideally below the 33 level.
This approach could offer an attractive 1:4 risk-to-reward ratio, depending on the stop loss placement.