Quotes of Silver XAG/USD end the trading week near the 31.20 area. Quotes continue to move within the framework of the development of the fall and the formation of the reversal pattern “Head and Shoulders”. 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 an increase in the value of the asset and a test of the resistance level near the 32.65 area. Next, a continuation of the fall in the price of Silver with a potential target below the level of 24.25.
Silver Weekly Forecast March 3 — 7, 2025
A rebound from the resistance line on the relative strength indicator will act in favor of a decrease in quotes and prices for Silver in the current trading week of March 3 — 7, 2025. The second signal will be a rebound from the upper border of the reversal pattern “Head and Shoulders”. Cancellation of the option of a fall in XAG/USD quotes will be a strong growth and a breakout of the 35.65 area. This will indicate a breakout of the resistance area and continued growth in Silver prices with a target above the level of 38.65. The development of the fall will be confirmed by a breakout of the support level and closing of prices below the level of 28.15, which will indicate a breakout of the lower border of the reversal pattern “Head and Shoulders” and the beginning of the implementation of the pattern with targets below.
Silver Weekly Forecast March 3 — 7, 2025 suggests an attempt to test the resistance level near the area of 32.65. Then, the continuation of the fall in Silver prices with a target above the level of 24.25. The test of the trend line on the relative strength indicator will be in favor of the fall. The cancellation of the XAG/USD decline option will be a strong growth and a breakout of the level of 35.65. This will indicate a continuation of the rise in quotes to the area above the level of 38.65.
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