Silver XAG/USD quotes are ending the trading week with a correction, but prices remain within the ascending channel and the Wedge reversal pattern. Moving averages indicate a bullish trend for the asset. Prices continue to test the area between the signal lines, indicating growing pressure from metal buyers and potential continued growth from current levels. Currently, we should expect an attempt to continue the bearish correction in the asset price and a test of the support level near the 67.05 area. Further growth in the silver price is then expected with a potential target above the 97.55 level, as part of the weekly forecast.
Silver Weekly Forecast XAG/USD May 4 – 8, 2026
An additional signal favoring silver price growth this trading week (May 4-8, 2026) will be a rebound from the support line on the relative strength indicator. A second signal will be a rebound from the lower boundary of the long-term bullish channel. A decline and a breakout of the 57.05 area will cancel out the upward trend in XAG/USD this trading week. This will indicate a breakout of the support area and a continued decline in silver prices with a target below 47.05. A breakout of the resistance level and a price close above 82.05 will confirm further price growth, signaling a breakout of the upper boundary of the Wedge reversal pattern and the beginning of the pattern’s implementation with targets above.
Silver Weekly Forecast XAG/USD May 4 – 8, 2026 suggests an attempt to decline prices and test the support level near 67.05. Then, silver prices will continue to rise with a target above 97.55. A test of the trend line on the relative strength indicator will serve as an additional signal for an upside move. A decline and a break of 57.05 in XAG/USD would invalidate the upward trend. This would indicate a continued decline below 47.05.
