The XAG/USD quotes continue to move within the framework of growth development and the start of implementing a “Triangle” pattern. At the time of writing the forecast, silver is priced at 32.87. Moving averages point to an existing bearish trend. Prices broke through the area between signal lines upwards, indicating pressure from buyers and potential continuation of the increase in asset price already from current levels. Currently, it is worth expecting a downward correction development of metal value and testing the support level near the area 32.65. From where one should expect a price bounce up and silver price growth to continue with a target above the level of 33.95.
Silver Forecast XAGUSD for May 21, 2025
Additional indication in favor of an increase in quotations and silver prices is a test of the support line on the Relative Strength Index (RSI). A second signal for decline would be bouncing off the upper boundary of the descending channel. The cancellation of the price rise variant for silver on May 21, 2025, will be when it falls below 31.85. This indicates a break through the support area and continuation of the fall to an area below the level of 30.05. Expect acceleration in the increase of XAG/USD quotes with breaking the resistance zone above the level of 33.45, which signals a breakthrough of the resistance level.
Silver Forecast XAGUSD for May 21, 2025 anticipates a test of the support area near the level of 32.65. Following that, continuation of price rise towards levels above 33.95. Confirmation of the bullish price movement in Silver would be rejection by prices falling below the level of 31.85. This signals penetration of the support zone. In this case, it is reasonable to expect further silver price decline with a target at the level of 30.05.
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