XAG/USD quotes continue to move within the context of correction development and forming a “Triangle” pattern. At the time of this forecast’s publication, Silver price is at 33.24. Moving averages indicate an uptrend presence. Prices have breached the area between signal lines upwards, indicating pressure from buyers and potential continuation of the growth in value already from current levels. Currently, it is expected that there will be a development attempt of the bearish correction of the metal’s price and testing the support level close to the region 32.75. From where one should anticipate an upward bounce in price and continued growth in Silver prices with a target above the 34.65 level.
Silver Forecast XAGUSD for May 30, 2025
Additional confirmation of an upward movement in XAG/USD prices and premiums will come when testing the support line on the Relative Strength Index (RSI). A bounce off the lower boundary of the “Triangle” model serves as a second signal for a price drop. The possibility of silver prices rising until May 30, 2025 is invalidated by a drop below 32.45. This indicates a breach of support area and further decline towards an area below 30.65. An acceleration in the upward movement of XAG/USD quotes should be expected with penetration of the resistance zone above 33.75, indicating a breach of the Triangle model’s upper boundary and the start of implementing the pattern upwards with targets above.
Silver Forecast XAGUSD for May 30, 2025 anticipates a test of the support area near the level of 32.75. Subsequently, continuation of price growth to levels above 34.65. Cancellation of the silver prices uplift option will be a drop and breach of the level at 32.45. This would indicate penetration of the support area. In this case, one should expect continued price decrease for silver with a target level at 30.65.
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