XAG/USD quotes continue to move within the framework of the development of the fall and the beginning of the implementation of the reversal pattern “Head and Shoulders”. At the time of publication of the forecast, the Silver price is 32.23. Moving averages indicate the presence of a bullish trend. Prices broke through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the fall in value from the current levels. At the moment, we should expect an attempt to develop a bullish correction in the value of the metal and a test of the resistance level near the area of 32.65. Where should we expect a price rebound downwards and a continuation of the fall in the price of Silver with a target below the level of 30.15.
Silver Forecast XAGUSD for May 1, 2025
An additional signal in favor of a decrease in quotes and prices for Silver XAG/USD will be a test of the resistance line on the relative strength indicator (RSI). The second signal in favor of a fall will be a rebound from the lower border of the reversal pattern “Head and Shoulders”. The cancellation of the option of falling prices for Silver on May 1, 2025 will be strong growth and a breakout of 33.45. This will indicate a breakout of the resistance area and continued growth to the area above the level of 35.25. We should expect an acceleration of the fall in XAG/USD quotes with a breakout of the support area below the level of 32.05.
Silver Forecast XAGUSD for May 1, 2025 suggests an attempt to test the resistance area near the level of 32.65. Further, a continuation of the fall in quotes with a target below the level of 30.15. The cancellation of the Silver price fall option will be a strong growth and a breakout of the 33.45 level. This will indicate a breakout of the resistance area. In this case, we should expect the Silver price to continue to grow with a target at 35.25.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
