Silver Price Forecast: XAG/USD Bulls Control Intraday Gains Above $33.00

Silver Price Forecast: XAG/USD Bulls Control Intraday Gains Above $33.00

Silver (XAG/USD) continues to show renewed buying strength on Friday, building on yesterday’s rebound from the $32.60 support level. The momentum carried through the early European session, pushing the price to a new daily high around $33.25-$33.30.

Technically, this dip-buying confirms the recent breakout from a downtrend channel that lasted nearly a month, signaling strong support for further gains. Daily chart oscillators are beginning to reflect positive momentum, reinforcing the outlook for additional near-term appreciation.

If silver manages to break through resistance in the $33.65-$33.70 zone—levels last seen in early April—it could pave the way to retest the psychological $34.00 mark. Surpassing this could propel silver prices toward the year’s highs near $34.55-$34.60, reached in March.

Pullbacks below $33.00 are likely to be limited and may present buying opportunities for traders looking to capitalize on the ongoing bullish trend.