Silver's Surge: XAGUSD Reacts Strongly from Blue Box Area

In this technical blog, we will look at the past performance of the Daily Elliott Wave Charts of the XAGUSD. The rally from the August 2022 low showed a higher high sequence & provided a swing buying opportunity at the blue box area. In this case, the pullback managed to reach the blue box area & provided a perfect reaction higher. So, we advised members not to sell Silver but to buy the blue box area for a minimum reaction higher to happen. We will explain the structure & forecast below:

XAGUSD Daily Elliott Wave Chart From 4.05.2025

Here’s the Daily Elliott wave Chart from the 4.05.2025 Weekend update. In which, the rally to $34.86 high ended the cycle from March 2023 low & made a pullback against that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where wave (A) ended at $29.68 low. Then a bounce to $34.58 high-ended wave (B) & started the next leg lower in wave (C) towards $28.56- $24.82 equal legs area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

XAGUSD Latest Daily Elliott Wave Chart From 4.12.2025

Above is the Latest Daily Elliott Wave Chart from 4.12.2025 Weekend update. In which the metal is showing a perfect reaction higher taking place from the blue box area. Right after ending the zigzag correction. Allowed members to create a risk-free position shortly after taking a long position. But a break above $34.86 high would still be needed to confirm the next leg higher minimum towards the $36.45- $38.97 area & avoid double correction lower.

Source: https://elliottwave-forecast.c...