Silver Eyes $33.24 Breakout as U.S.-China Trade Talks Heat Up
Silver is sitting at $32.50, testing a key resistance zone as traders digest the latest news. With a tightening wedge and new trade...

Quick overview
- Silver is currently testing a key resistance zone at $32.50 as traders await news on trade deals.
- Recent trade agreements between the US and UK have reduced tariffs, but a 10% US tariff on British goods limits silver's upside potential.
- Technical analysis indicates that a breakout from the current wedge pattern is imminent, with key resistance levels at $32.58, $32.94, and $33.24.
- Traders should consider a buy setup if silver breaks above $32.58, with risk management strategies in place.
Silver is sitting at $32.50, testing a key resistance zone as traders digest the latest news. With a tightening wedge and new trade deals on the horizon, silver’s next move could be big.
Silver Holds Steady Amid Trade Deal Hopes
Silver (XAG/USD) is right below the 50 EMA at $32.58, as traders wait to see what the latest tariff announcements mean. US President Donald Trump and UK Prime Minister Keir Starmer just struck a “breakthrough” trade deal, cutting UK tariffs on US imports to 1.8% from 5.1%. But a 10% US tariff on British goods remains, so upside is capped.
Meanwhile, the market is shifting its focus to the upcoming US-China trade talks where Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will meet China’s top economic official in Switzerland this weekend. If these talks lead to a broader tariff rollback, it could boost risk and cap silver’s safe-haven appeal.
Technical Levels to Watch
Silver is in a wedge, so a breakout is imminent:

Immediate Resistance: $32.58 (50 EMA) – critical short-term level
Next Resistance: $32.94 – descending trendline from recent highs
Major Hurdle: $33.24 – key level for bullish momentum
On the downside, the trendline near $32.23 is a key support zone, aligns with the bigger uptrend from late April.
Silver Trade Setup
For those looking to get in on the next move, the wedge is a clear risk-reward setup:
Buy Setup: Long if silver breaks above $32.58, confirming the reversal. Initial targets are $32.94, then $33.24.
Risk Management: Stop just below the trendline at $32.23 to limit downside.
Momentum Confirmation: Watch for a bullish MACD crossover for additional confirmation.
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