XAG/USD quotations continue moving within the context of a correction development and forming a “Triangle” pattern. At the time of this forecast publication, Silver price stands at 31.90. Moving averages indicate an underlying bearish trend. Prices have pierced the area between signal lines downwards, which indicates pressure from sellers and potential continuation of the asset’s value depreciation from current levels already. Currently, it’s advisable to anticipate a bullish correction attempt in the metal’s value development and testing resistance level near around 32.35. From where we should expect price to bounce downward and continue Silver price decline towards a target below the 30.25 level.
Silver Forecast XAGUSD for May 16, 2025
Additional signals in favor of a decrease in the quotes and prices for Silver XAG/USD include testing the resistance line on the Relative Strength Index (RSI) indicator. The second signal in favor of falling is bouncing off the lower boundary of the “Triangle” model. Cancellating the option of reducing silver prices on May 16, 2025 will be a strong rise and penetration of the 33.05 level. This would indicate breaking through the resistance area and continuation of growth into the region above the 35.45 level. Expect acceleration in the decrease of XAG/USD quotes with breaking through the support zone below the level of 31.35, which indicates breaking off the lower boundary of the “Triangle” model and beginning implementation of a pattern with targets downwards.
Silver Forecast XAGUSD for May 16, 2025 predicts a test of the resistance area near the level of 32.35. Then, continuation of price drops with a target below the level of 30.25. Cancellation of the option of silver prices dropping will be a strong rise and penetration through the level of 33.05. This indicates a break above the resistance area. In this case, one should expect the continuation of an increase in the price of silver with a target at the level of 35.45.
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