Silver XAG/USD quotes end the trading week near the 31.44 area. Quotes continue to move within the framework of the development of the fall 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 30.35 area. Next, the continuation of the growth of the Silver price with a potential target above the level of 36.65.
Silver Weekly Forecast April 7 — 11, 2025
A rebound from the support line on the relative strength indicator will act in favor of the growth of quotes and prices for Silver in the current trading week of April 7 — 11, 2025. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the growth option for XAG/USD quotes will be a fall and a breakout of the 30.55 area. This will indicate a breakout of the support area and a continuation of the fall in Silver prices with a target below the level of 27.25. The development of growth will be confirmed by a breakout of the resistance level and closing of prices above the level of 35.25, which will indicate a breakout of the upper border of the “Triangle” model and the beginning of the implementation of the pattern with targets at the top.
Silver Weekly Forecast April 7 — 11, 2025 suggests an attempt to test the support level near the area of 30.35. Then, the continuation of the growth of Silver prices with a target above the level of 36.65. The test of the trend line on the relative strength indicator will be in favor of the rise. The cancellation of the growth option for XAG/USD will be a fall and a breakout of the level of 30.55. This will indicate a continuation of the decline in quotes to the area below the level of 27.25.
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