Silver (XAG/USD) is ending the trading week on a decline, occurring within the formation of a bullish “Wolfe Wave” pattern. Moving averages indicate a bearish trend for the asset. Prices have broken downward through the area between the signal lines, reflecting mounting pressure from sellers and the potential for a continued decline from current levels. In the near term, a further bearish correction is expected, likely testing the support zone near 44.25. Following this, the forecast for the week anticipates a rebound in the price of Silver, with a potential target above 66.55.
Silver Weekly Forecast XAGUSD November 2 – 6, 2026
An additional signal supporting a rise in silver prices during the current trading week (November 2–6, 2026) is a rebound from the support line on the Relative Strength Index (RSI). A second signal is a rebound from the lower boundary of a bullish “Wolfe Wave” pattern. The bullish outlook for XAG/USD this week would be invalidated if the price falls and breaks through the 38.45 level; this would indicate a breach of the lower boundary of the bullish channel and a continued decline in silver prices toward a target below 33.15. Conversely, the bullish scenario would be confirmed if the price breaks above the upper boundary of the descending channel and closes above 55.65—signaling a breakout from the top of the “Wolfe Wave” pattern and the initiation of an upward move toward higher targets.
Silver Weekly Forecast XAGUSD November 2 – 6, 2026 suggests an initial attempt at a decline to test support near the 44.25 level, followed by a rebound and a rise in silver prices toward a target above 66.55. A test of the trend line on the Relative Strength Index (RSI) serves as an additional signal favoring an upward move. The bullish scenario for XAG/USD would be invalidated by a decline that breaks through the 38.45 level, which would point to a continued drop toward levels below 33.15.
