Silver Elliott Wave Analysis | Trading Lounge
Silver Price Forecast Silver is likely to experience a deeper correction from the recovery that began at the April 2025 low before resuming its long-term bullish uptrend. A major Elliott Wave corrective cycle completed above $28 on April 6, 2025. Silver prices are now set to attract fresh buying interest on dips, positioning the market to break above the 2024 highs.
Silver Elliott Wave Analysis - Daily Chart
Elliott Wave Analysis The daily Elliott Wave count shows Silver completed a major cycle degree wave III in October 2024. After posting the 2024 peak, Silver entered a corrective phase — cycle degree wave IV — retracing gains from the advance that started in October 2023. Wave IV formed a classic zigzag correction, bottoming above $28 in April 2025.
Following this low, Silver launched an impulsive rally, developing wave (1) of V, which completed by late April 2025. The current pullback represents wave (2), which is expected to conclude above $28.20. Once wave (2) finishes, Silver is projected to stage a strong rally in wave (3), aiming to break above the 2024 high.
Silver Elliott Wave Analysis – 4-Hour Chart
Elliott Wave Forecast The H4 Elliott Wave analysis focuses on the internal structure of wave (2). It remains unclear whether wave (2) completed at the May 1, 2025 low or if it will evolve into a more complex double correction. Since Gold has not yet finalized a comparable correction, Silver prices could still move lower in the short term.
Nevertheless, a decisive break above the wave (1) high will confirm that wave (3) is underway. Across multiple timeframes — from the H1 chart to the weekly chart — Silver continues to attract bullish momentum, with traders aiming to buy the dips or enter on confirmed breakout setups.
Technical Analyst: Sanmi Adeagbo
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