Silver XAG/USD quotes are ending the trading week near the 33.38 area. Quotes continue to move within the framework of the rise and the formation of the “Triangle” model. Moving averages indicate the presence of an upward trend for the asset. Prices are again testing the area between the signal lines, which indicates pressure from metal buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a correction in the asset value and a test of the support level near the 30.95 area. Further, the continuation of the growth of the Silver price with a potential target above the 39.65 level.
Silver Weekly Forecast April 28, 2025 — May 2, 2025
A rebound from the support line on the relative strength indicator will act in favor of the growth of Silver quotes and prices in the current trading week from April 28, 2025 — May 2, 2025. The second signal will be a rebound from the lower border of the “Triangle” model. The XAG/USD growth scenario will be cancelled by a fall and a breakout of the 28.05 area. This will indicate a breakout of the support area and a continuation of the fall in Silver prices with a target below 25.65. The development of growth will be confirmed by a breakout of the resistance level and closing of prices above 36.65, which will indicate a breakout of the upper border of the Triangle pattern and the beginning of the implementation of the pattern with targets at the top.
Silver Weekly Forecast April 28, 2025 — May 2, 2025 suggests an attempt to test the support level near the 30.95 area. Then, continued growth in Silver prices with a target above 39.65. A test of the trend line on the relative strength indicator will be in favor of the rise. The XAG/USD growth scenario will be cancelled by a fall and a breakout of the 28.05 level. This will indicate a continuation of the decline in quotes to the area below 25.65.
