XAG/USD quotes continue moving within the context of a correction development and forming a “Triangle” pattern. At the time of the forecast publication, Silver’s price stands at 34.43. 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 value increase already from current levels. Currently, it is expected that a bearish correction in metal prices will develop and test the support level near the region of 34.05, from where one should expect a price bounce upwards and continued Silver’s price growth with a target above the 36.25 level.
Silver Forecast XAG/USD for June 5, 2025
Additional signals in favor of the rise in quotations and silver prices XAG/USD will be a test of the support line on the Relative Strength Index (RSI) indicator. A rebound from the lower border of the bull channel would serve as a second signal for a decline. Cancellations of the price increase option for Silver on June 5, 2025, are a drop below 33.55 levels. This will indicate breaking through the support area and continuing the fall to an area below the level of 31.25. Expect acceleration in XAG/USD quotations’ rise upon penetration of the resistance zone above the 35.05 level, which will signal breaking through the upper boundary of the “Triangle” model’s structure and beginning implementation of a pattern with targets upwards.
Silver Forecast XAG/USD for June 5, 2025 suggests an attempt to test the support area near the level of 34.05. Following this, continuation of the increase in quotes with a target above the level of 36.25. Cancellation of the price rise variant on Silver will be a drop and breaking through the level of 33.55. This will indicate a breakthrough the support area. In this case, one should expect further decrease of Silver’s price with a target at the level of 31.25.
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