Silver (XAGUSD) Elliott Wave Analysis Predicts Downwards Movement Following Zig Zag Correction

Technical analysts examining Silver XAGUSD charts identify an incomplete bearish correction pattern. The recent upward movement in the commodity unfolded as a three-wave Zig Zag structure, suggesting a potential reversal in the broader downtrend.

In Elliott Wave theory, a Zig Zag pattern represents a corrective structure comprising three waves labeled A, B, and C. These waves exhibit 5-3-5 subdivisions, where wave A and C consist of five sub-waves, and wave B contains three. Critical components include RSI divergences, Fibonacci retracement levels, and extension measurements that validate the wave integrity. (Leading diagonals may appear in wave A, while an ending diagonal is typical in wave C.)

SILVER Elliott Wave 1 Hour Chart 07.03.2026

Silver is currently forming a recovery sequence against the 71.598 peak, structured as an Elliott Wave Zig Zag pattern. The initial leg ((a)) displays a five-wave correction, with potential for an extended B wave to complete the 5-3-5 configuration. The projected price target ranges between 61.90–64.78, identified through Fibonacci extension measurements of equal wave legs ((a)) and ((b)). As long as prices remain below 64.78, the bearish scenario remains intact.

SILVER Elliott Wave 1 Hour Chart 07.09.2026

The subsequent upward movement completed five waves in the ((c)) phase, reaching 63.29 before reversing. This confirmed the correction within the identified range. Current analysis favors a break below the prior A wave low (red zone) to validate the resumed downtrend. Market conditions remain subject to real-time adjustments based on price action.

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