Peter Smith
Silver (XAG/USD) has surged above the crucial $37 resistance level, renewing bullish momentum in the precious metals market. With technical indicators signaling strength, market participants are now targeting the $39–$40 zone as the next potential upside move.
XAG/USD Price Surges Above $37 Resistance
The price of silver is currently trading at $37.07, with buy and sell quotes at $37.08 and $37.06, respectively. This marks a significant breakout from the tight consolidation zone between $35.50 and $37.50, where price action had been range-bound for weeks. The breakout occurred with increased momentum and bullish candlesticks on the 4H timeframe.
The chart shows a clearly defined support zone around $35.50, which acted as a base for the recent move. A sustained close above $37.50 could confirm a shift in market structure and open the path toward higher levels.
Will Silver Rally to $40?
If silver (XAG/USD) maintains bullish pressure, the next major target is the $39.00–$40.00 range. This level represents the next key resistance, and a breakout could draw in more momentum traders and institutional interest.
The rally is supported by macroeconomic concerns, inflation hedging, and renewed investor demand for hard assets. With the breakout underway and sentiment improving, silver may be on the verge of a broader uptrend continuation.
Peter Smith
