Elliott Wave: Silver rallies post three wave pullback, aiming for new highs [Video]
|The bullish cycle in Silver (XAGUSD), initiated from the April 2025 low, continues to unfold as an impulse pattern. Starting from that low, wave (1) peaked at 33.68, followed by a corrective dip in wave (2) that concluded at 31.65. Silver then surged in wave (3) to 39.52, with a subsequent pullback in wave (4) finding support at 36.2, as illustrated on the 1-hour chart. Currently, wave (5) is developing as a lower-degree impulse. For the bullish trend to persist without risk of a double correction, Silver must break above 49.52.
From the wave (4) low, wave ((i)) reached 36.8, and a brief pullback in wave ((ii)) stabilized at 36.34. The metal then climbed in wave ((iii)) to 38.5, followed by a correction in wave ((iv)) to 37.48. The final leg, wave ((v)), concluded at 38.73, completing wave 1 in a higher degree. A corrective wave 2 then unfolded as a zigzag Elliott Wave structure. From the wave 1 peak, wave ((a)) declined to 37.7, wave ((b)) rallied to 38.26, and wave ((c)) fell to 36.94, finalizing wave 2. Silver has now resumed its ascent in wave 3. As long as the 36.2 pivot holds, expect Silver to continue rallying.
Silver– 60 minute Elliott Wave technical chart
XAG/USD – Elliott Wave technical [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.