Silver Extends Higher as Wave ((iii)) Remains in Progress
Silver (XAGUSD) maintains a bullish Elliott Wave structure with pullbacks offering buying opportunities
It continues to trade firmly higher and maintains a bullish structure. Price action respects the broader Elliott Wave sequence and keeps favoring the upside while key support levels hold. The rally from the prior swing low remains impulsive and shows no signs of exhaustion yet. From the earlier low, Silver completed a corrective phase and then turned higher in a clear impulsive advance. This move confirms that wave ((ii)) has already ended. Price has since resumed higher within wave ((iii)). Momentum remains strong, which is typical during a third-wave sequence.
Within wave ((iii)), Silver is unfolding higher in wave (i). Wave (ii) has already completed as a corrective pullback. Price has now pushed higher into wave (iii), showing strong upside acceleration. Inside this advance, red sub-wave iii appears advanced. Because of this, a brief pause or pullback may develop in the near term. Any short-term pullback should form as red wave iv and stay corrective in nature. This correction should unfold in a 3, 7, or 11 swing structure. Once complete, it should offer a buying opportunity near the extremes of the pullback. As long as Silver holds above the invalidation level at 60.753, the bullish outlook remains unchanged.
The broader structure continues to favor higher prices, and selling is not recommended at this stage. Pullbacks should be viewed as pauses within the trend rather than signs of a larger reversal.
Silver (XAGUSD) 45 min chart from 12.24.2025 update
Silver (XAGUSD) Elliott Wave video:
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