XAG/USD quotes continue to move within the framework of the correction and the formation of a “Wedge” reversal pattern. At the time of publication of the forecast, the price of silver is 35.85. Moving averages indicate an upward trend. Prices have broken through the area between the signal lines downwards, indicating pressure from sellers and a potential continuation of the decline from current levels. At the moment, we can expect an attempt to develop a decline in the price of the metal and a test of the support level near the 34.85 area. From there, we can expect a rebound and a continuation of the rise in the price of silver with a target above the 38.75 level.
Silver Forecast XAG/USD for July 1, 2025
An additional signal in favor of growth in quotes and prices for silver XAG/USD will be a test of the support line on the relative strength indicator (RSI) indicator. The second signal in favor of a decline will be a rebound from the lower border of the “Wedge” reversal pattern. A decline and breakout of 34.05 will cancel the option of growth in silver prices on July 1, 2025. This will indicate a breakout of the support area and a continuation of the decline to the area below the level of 32.25. An acceleration in the decline in XAG/USD quotes should be expected with a breakout of the resistance area above the 37.05 level, which will indicate a breakout of the upper border of the “Wedge” reversal pattern and the beginning of the implementation of the pattern with targets at the top.
Silver Forecast XAG/USD for July 1, 2025 suggests an attempt to test the support area near the 34.85 level. Further, the quotes will continue to grow with a target above the level of 38.75. A fall and breakout of the level of 34.05 will cancel the option of a rise in silver prices. This will indicate a breakout of the support area. In this case, we should expect a continuation of the fall in the price of silver with a target at the level of 32.25.
