Silver Consolidates After Huge Drop – Breakout Ahead?At the beginning of April, XAGUSD experienced a dramatic decline, losing over 5,000 pips in just three trading days — a drop of more than 15% of its value.
However, after bottoming out on Monday, April 7, the price staged a sharp rebound and, within a week, was back around the 33.00 level.
📉➡️📈 From Panic to Pause – What’s Next?
For more than a month now, Silver has been trading in a tight range, between just under 32.00 and slightly above 33.00.
This consolidation forms a rectangle pattern, which is typically a continuation structure in technical analysis.
With this in mind, I expect further upside from Silver. A clean breakout above the current range could send the price toward the 35.00 zone — and possibly beyond this psychological level.
📊 Trading Plan:
As long as the 32.00 support holds, I remain bullish and will look to buy dips, aiming for a positive risk-reward setup, ideally around 1:2.
🧠 Consolidation breeds momentum — don’t sleep on Silver. If the genuine breakout comes, it could be explosive. 🚀
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