Quotes XAG/USD continue to move within the framework of the development of the correction and the formation of the “Triangle” model. At the time of publication of the forecast, the Silver price is 32.85. Moving averages indicate the presence of a bullish trend. Prices broke through the area between the signal lines upwards, which indicates pressure from the buyers and potential continuation of the growth of the value already from the current levels. At the moment, we should expect an attempt to develop a bearish correction of the metal price and a test of the support level near the 32.45 area. From where we should expect the price to rebound upwards and continue the growth of Silver price with the target above the level of 34.25.
Silver Forecast XAGUSD for May 15, 2025
An additional signal in favor of the rise in Silver XAG/USD quotes and prices will be a test of the support line on the Relative Strength Indicator (RSI). The second signal in favor of growth will be a rebound from the lower boundary of the Triangle pattern. A fall and breakdown of 31.45 will be the cancellation of the Silver price growth option on May 15, 2025. This will indicate the breakdown of the support area and the continuation of the fall to the area below the level of 29.85. We should expect XAG/USD quotes to accelerate with the breakdown of the resistance area above 33.25, which will indicate the breakdown of the upper boundary of the “Triangle” pattern and the beginning of the pattern realization with upward targets.
Silver Forecast XAGUSD for May 15, 2025 suggests an attempt to test the support area near the level of 32.45. Further, the continuation of the quotes growth with the target above the level of 34.25. A fall and breakdown of the level of 31.45 will cancel the variant of the Silver price rise. This will indicate the breakdown of the support area. In this case, we should expect the Silver price to continue falling with the target at 29.85.
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