$XAG
The short‑term Elliott Wave outlook in Silver (XAGUSD)f rom the July 17, 2026 low indicates that the cycle is unfolding as a five‑wave impulse. Within this sequence, wave ((1)) concluded at $71.23. The subsequent pullback in wave ((2)) is now in progress, serving to correct the earlier advance. Its internal subdivision takes the form of a zigzag structure, which is typical in corrective phases. From the termination of wave ((1)), wave (A) ended at $63.28. Thereafter, wave (B) developed as a zigzag of its own. In this subdivision, wave A finished at $67.47, wave B retraced to $64.71, and wave C advanced to $68.32, completing wave (B) at a higher degree.
Following this, the metal resumed its decline in wave (C). The ideal target for this leg is measured by the 100% to 161.8% Fibonacci extension of wave (A). This projection yields a zone between $55.5 and $60.3. Buyers are expected to emerge in this area, setting the stage for the next upward cycle. In the near term, as long as the pivot at $71.23 remains intact, rallies should fail in either three or seven swings, leading to further downside pressure
The short‑term Elliott Wave outlook in Silver (XAGUSD)f rom the July 17, 2026 low indicates that the cycle is unfolding as a five‑wave impulse. Within this sequence, wave ((1)) concluded at $71.23. The subsequent pullback in wave ((2)) is now in progress, serving to correct the earlier advance. Its internal subdivision takes the form of a zigzag structure, which is typical in corrective phases. From the termination of wave ((1)), wave (A) ended at $63.28. Thereafter, wave (B) developed as a zigzag of its own. In this subdivision, wave A finished at $67.47, wave B retraced to $64.71, and wave C advanced to $68.32, completing wave (B) at a higher degree.
Following this, the metal resumed its decline in wave (C). The ideal target for this leg is measured by the 100% to 161.8% Fibonacci extension of wave (A). This projection yields a zone between $55.5 and $60.3. Buyers are expected to emerge in this area, setting the stage for the next upward cycle. In the near term, as long as the pivot at $71.23 remains intact, rallies should fail in either three or seven swings, leading to further downside pressure
