Elliott Wave Analysis: Spot Silver (XAGUSD) Targeting Fresh All-Time Highs
Spot Silver (XAGUSD) has mounted a notable recovery following the sharp decline from its all-time high of $54.46 to the $45.40 low registered on 28 October. We interpret this decline as the completion of wave (4) within the broader impulsive structure. While the metal has yet to decisively break above the $54.46 high to fully negate the possibility of a double correction, it currently trades just a few cents below that threshold. Given this proximity, the likelihood of a double correction at this stage appears minimal.
From the wave (4) low, price action has unfolded as a nesting five-wave impulsive sequence. Wave ((i)) concluded at $48.45, followed by a corrective pullback in wave ((ii)) that ended at $47.22. The advance resumed with wave ((iii)) reaching $49.14, while wave ((iv)) retraced modestly to $48.65. The final leg, wave ((v)), terminated at $49.36, thereby completing wave 1 of a higher degree.
Subsequently, a corrective wave 2 developed as a zigzag structure, bottoming at $46.86. The metal has since resumed its ascent in another impulsive nest. From wave 2, wave ((i)) peaked at $54.39. A pullback in wave ((ii)) is currently underway, correcting the cycle from the 5 November low. In the near term, as long as the $45.40 pivot remains intact, dips are expected to attract buyers in 3, 7, or 11 swings, supporting further upside potential.
Spot Silver (XAGUSD) 1-Hour Elliott Wave Chart From 11.14.2025
XAGUSD Elliott Wave Chart
XAGUSD Elliott Wave Video
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
