The XAG/USD quotes continue their movement within the correction development and bear channel. At the time of writing this forecast, silver’s price is at 34.44. Moving averages indicate an upward trend. Prices have broken through the area between signal lines upwards, which indicates pressure from buyers and potential continuation of the price increase already from current levels. Currently, it would be expected to see a development of the bear correction in the metal’s value and a test of support level close to the 34.05 area. From where one should expect an upward bounce in price and continued silver price growth towards a target above the 35.85 level.
Silver Forecast XAG/USD for June 4, 2025
Additional signals in favor of an increase in silver quotes and prices XAG/USD include testing the support line on the Relative Strength Index (RSI). A second signal for a decline will be bouncing off the lower border of the bullish channel. Cancellation of the silver price rise option on June 4, 2025 becomes falling below 33.45. This indicates breaking through the support area and continuing the fall to an area below the level of 31.35. Expecting acceleration in XAG/USD quotations is due with a breakthrough over the resistance zone at 35.05, indicating breaching the upper border of the bullish channel, which is a signal for growth within the width of the channel.
Silver Forecast XAG/USD for June 4, 2025 anticipates an attempt to test the support area close to the level of 34.05. Subsequently, continuation of price quotations rise towards a target above the level of 35.85. Cancellation of the option of price increase on Silver will be a drop and penetration of the level of 33.45. This indicates a breakthrough the support area. In this case, one should expect further decline in the Silver price with a target at the level of 31.35.
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