Silver (XAG/USD) Elliott Wave: Eyeing wave five rally [Video]
|The short-term Elliott Wave view in Silver (XAGUSD) indicates that the rally from the February 6, 2026 low is unfolding as a five-wave diagonal structure. From that low, wave (1) concluded at $84.02, followed by a corrective pullback in wave (2) that ended at $71.90. The metal then resumed its upward trajectory in wave (3) towards $96.39 which developed with internal subdivision into another five-wave sequence. Afterward, wave (4) unfolded as a double three corrective pattern and terminated at $77.92. Silver has since turned higher, initiating wave (5).
From the wave (4) low, wave 1 advanced to $86.81, and wave 2 pulled back to $79.59. The structure suggests that, as long as the pivot at $71.93 remains intact, Silver is positioned to extend higher in the near term. The projected target for wave (5) lies within the 123.6% to 161.8% inverse retracement of wave (4). This range corresponds to $100.60–$107.70, offering a clear zone of potential resistance and completion for the current diagonal.
This outlook highlights the maturity of the ongoing cycle and underscores the importance of the $71.93 pivot. As long as that level holds, the bias remains constructive, with Silver expected to continue its advance toward the defined target zone
XAG/USD (Silver) 60-minute Elliott Wave chart
XAG/USD Elliott Wave [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.