XAG/USD quotes continue their movement within the framework of a bullish correction development and a descending channel. At the moment of writing this forecast, Silver price is at 32.51. Moving averages point to a bearish trend. Prices broke through the area between the signal lines upwards, which indicates buying pressure and potential continuation of the increase in the metal’s cost from current levels. Currently, we should anticipate an attempt for development of a bullish correction in the price of the metal and testing the resistance level near the 32.85 zone. From there, one can expect a drop in the price and continued Silver price decline to a target below the 30.75 level.
Silver Forecast XAGUSD for May 20, 2025
Additional signals in favor of a decrease in XAG/USD quotes and prices are the test of the resistance line on the Relative Strength Index (RSI) indicator. A second signal indicating a drop is bouncing off the upper boundary of the descending channel. Cancellation of the silver price decline option for May 20, 2025 will be strong growth and breaking through 33.65. This indicates突破the resistance area and continuation of growth towards levels above 36.35. Expect an acceleration in the decrease of XAG/USD quotes with a break through the support zone at level 31.15, indicating breaking through the lower boundary of the bear channel, which is a signal for decline across the width of the channel.
Silver Forecast XAGUSD for May 20, 2025 suggests a test of the resistance area near level 32.85. Following this, continuation of price drop with target below level 30.75. Cancellation of the option of silver prices decline will be strong growth and breaking the level 33.65. This indicates breaking the resistance area. In that case, it is expected to see a continuation of the rise in silver price’s value up to level 36.35.
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