XAG/USD prices continue to move within the framework of an aggressive bearish correction and a bull channel development. Now of the forecast publication, Silver price stands at 33.01. Moving averages indicate a bullish trend. Prices broke through the area between signal lines upwards, which indicates pressure from buyers and potential continuation of the increase in value already from current levels. Currently, anticipate a downward correction attempt in the metal’s price development and testing support level close to the 32.80 area. From where one should expect the price to bounce up and continue Silver’s price rise with a target above the 34.45 level.
Silver Forecast XAG/USD for May 23, 2025
Additional signals for a rise in Silver XAG/USD prices and quotations are provided by testing the support line on the Relative Strength Index (RSI) indicator. A bounce off the lower border of the bull channel serves as a second signal. The elimination of the silver price increase option starting from May 23, 2025 occurs with a drop below 32.15. This will indicate a breach of support area and further decline to an area below level 31.55. An acceleration in XAG/USD quotations should be expected with a breakthrough above the resistance zone at 34.15.
Silver Forecast XAG/USD for May 23, 2025 anticipates a test of the support area near the level of 32.80. Subsequently, continuation of price increases to a target above the level of 34.45. Cancellation of the silver price rise option will be when prices fall and break through the level of 32.15. This would indicate a break in the support area. In this case, it is expected that silver’s price will continue to decrease with a target at the level of 31.55.
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