Elliott Wave Analysis: Silver (XAGUSD) Targets $40.3 in Wave 5 Rally
The ongoing cycle in Silver (XAGUSD), initiated from the April 7 low, continues to unfold as an impulsive Elliott Wave structure. Wave (3) of this impulse concluded at 39.52, as illustrated on the 1-hour chart. The subsequent pullback in wave (4) terminated at 36.17, exhibiting a zigzag internal structure. From the peak of wave (3), wave ((i)) declined to 38.67, followed by a rally in wave ((ii)) to 39.19. Wave ((iii)) then dropped to 37.93, with wave ((iv)) rebounding to 38.33. The final leg, wave ((v)), completed at 37.88, finalizing wave A in a higher degree. Wave B then rallied to 38.28.
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