XAGUSD – Bullish Setup for a Move Toward 40 1. What happened recently
After the massive selloff in early April, Silver (XAGUSD) reversed aggressively — gaining nearly 10,000 pips and breaking into multi-decade highs near 38. That kind of move is not noise. It’s power.
The month of June brought consolidation, with price slowly correcting and stabilizing. But this doesn’t look like distribution — it looks like new accumulation.
2. The key question
Is Silver building a base for the next breakout, or has the rally run out of steam?
3. Why I expect another leg up
- 35.00 is now acting as a solid support — tested, respected
- The correction has been shallow, typical for a bull rectangle structure
- Momentum remains on the buyers’ side — no major breakdown signs
- If buyers step in strongly, the next target is clearly the 40.00 psychological level
- This is a textbook bullish continuation setup.
4. Trading plan
Swing traders should watch the 35.00–35.20 zone for buying opportunities.
The risk/reward is attractive — with a potential for +5000 pips on a move toward 40, while keeping stops under the base.
Buy the dips — not the breakouts.
5. Final thoughts 🚀
Silver is shining again. The trend is up, the structure supports further gains, and the chart is offering a clean setup. Until 35 fails, the bias remains bullish.
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
