Silver steps into a new corrective phase [Video]
|Silver made nice push higher in March, but made a minor five-wave move from the 32,65 level, into the strong and important resistance zone around 34.50, which we highlighted previously. There’s a chance price is now moving into deeper retracement considering broken 4h channel support.
XAGUSD 4H Chart
With the current impulsive sell-off, it can be in first leg A of a deeper ABC decline within wave D as part of a bullish A-B-C-D-E triangle, clearly visible on the daily chart. But then after a pause, we should be on alert for a push back towards the highs this year.
XAGUSD Daily Chart
For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on March 31 2025:
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