XAG/USD prices continue to move within a bullish correction and a descending channel. At the time of publication of the silver forecast, the price is 80.45. Moving averages indicate a bearish trend. Prices have broken above the signal lines, indicating bullish pressure and potential continued price growth from current levels. Currently, an attempt at a bullish price correction and a test of the resistance area near 81.65 is expected. Where should we expect a price rebound and a continued decline in silver with a target below 61.65?
Silver Forecast XAG/USD for May 8, 2026
An additional signal favoring a decline in XAG/USD Silver quotes and prices will be a test of the resistance line on the relative strength indicator (RSI). A second signal favoring a decline will be a rebound from the lower boundary of the bullish channel. A strong rally and a breakout of 84.65 would cancel out the downward trend in silver prices on May 8, 2026. This would indicate a breakout of the resistance area and continued growth above 90.55. Expect the XAG/USD price decline to accelerate with a breakout of the support area and a consolidation below 67.05, which would signal a breakout of the lower boundary of the bullish channel.
Silver Forecast XAG/USD for May 8, 2026 suggests an attempt to test the resistance area near 81.65. Next, we should expect a price rebound and a continued decline in silver with a target below 61.65. A strong rally and a breakout of 84.65 would cancel out the downward trend in silver. This would indicate a breakout of the resistance area. In this case, we should expect a continued rise in silver with a target of 90.55.
