Silver XAGUSD – Wave 3 Structure Formation and Continuatio

Silver (XAGUSD, 4H) – Wave 3 Structure Formation and Continuation Scenario

Current price: $48.37
Silver is forming a potential impulsive sequence, following a completed ABC correction. The current rebound from the $47.00 area marks the possible start of wave 3, aligning with Fibonacci projections for a broader bullish continuation.

🧩 Technical Overview
• The metal has rebounded from the $47.00–$47.20 support zone, where multiple technical factors converge (Fib 0.236 retracement + previous swing low).
• A breakout from the short-term descending structure indicates renewed upward momentum.
• The next phase of the pattern targets higher Fibonacci extensions, confirming the start of a new impulsive leg.

📈 Bullish Scenario
• Stop-loss: below $47.10, under the recent low.
• Upside targets:
– $50.25–$50.30 — short-term confirmation zone
– $51.30–$51.35 — next resistance / 1.0 Fib projection
– $53.00–$53.10 — mid-term target (1.618 Fib)
– $56.20–$56.30 — extended objective (1.2 Fib expansion of the broader structure)
• A close above $49.00–$49.20 would confirm bullish continuation toward the $51–$53 range.

⚙️ Market Context
• Silver continues to mirror broader metal sector strength, supported by a moderate USD retracement and rising commodity momentum.
• Technical structure supports the idea of a completed corrective wave C, now transitioning into a new growth cycle.
• Volume and momentum indicators show early divergence signals consistent with a bullish reversal base.

🧭 Summary
Silver is showing clear signs of trend reversal and wave continuation.
• While price remains above $47.10, bias stays bullish, targeting $50.25 → $51.30 → $53.00 → $56.20.
• A breakout above $49.00 would validate the start of wave 3, whereas a drop below $47.00 would delay the scenario.