Silver XAG/USD prices conclude the trading week near the area of 32.02. Prices continue to move within the framework of a developing sideways correction and forming a “Triangle” model. Moving averages indicate an upward trend for the asset. The prices are again testing the area between signal lines, which indicates pressure from metal buyers and potential continuation of growth already from current levels. Currently, it is expected that an attempt to develop a correction in the asset’s value will occur and testing the support level near the 30.65 area. Subsequently, silver price continuation with a potential target above the level of 39.45 should be anticipated.
Silver Weekly Forecast XAGUSD May 19 — 23, 2025
In favor of the growth in silver quotation prices for the current trading week from May 19 to May 23, 2025, a rebound from the support line on the Relative Strength Index (RSI) will occur. A second signal is a bounce off the lower border of the “Triangle” model. The cancellation of the option for growth in silver quotation prices XAG/USD would be a drop below and penetration of the area at 28.25, indicating a break through the support zone and continued decline in silver prices with an aim below the level of 25.05. Confirmation of the development of growth will occur if it breaks the resistance level and closes prices above the level of 35.65. This would indicate penetration of the upper boundary of the “Triangle” model and the start of pattern implementation with goals upwards.
Silver Weekly Forecast XAGUSD May 19 — 23, 2025 suggests a test attempt of the support level near the area around 30.65. Following that, silver prices are expected to continue rising with targets above the 39.45 level. An upward movement will be supported by testing the trend line on the Relative Strength Index (RSI) indicator. The cancellation of the growth option for XAG/USD would occur upon a drop and break through the level at 28.25, which would indicate the continuation of price quotations’ decline into an area below the 25.05 level.
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