XAG/USD Elliott Wave Analysis: Wave (c) v-Leg Targets 52.55 and 48.81
Silver’s correction from the 71.18 high has reached its final leg. Price is at 53.94 with Wave (c)’s v-leg active, and the EWPlans chart maps two Fibonacci targets. Here is the breakdown.
Elliott Wave Analysis: Where Is XAG/USD Right Now?
The x/(Y) High — 71.18:
The preceding rally developed as a (W)-(X)-(Y) structure: (W) reached the 1.618 Fibonacci at 66.53, (X) retraced to the 0.382 Fibonacci at 62.89, and (Y) completed at 71.18.
The W-X-Z Correction:
W: (a)-(b)-(c) to ≈62.3
X: rally to ≈67.55
Z/Y: (a) ≈60.3, (b) contracting triangle ≈61.5, then (c) with internal i-ii-iii-iv-v: iii ≈55.4, iv ≈58.6, v now active
Targets:
52.551: 1.0 Fibonacci
48.808: 1.618 Fibonacci — projected completion of the larger (IV)
Expected Scenario and Potential Moves
Silver declines from 53.94 toward 52.55; a hold there could signal an earlier (c) completion, while a break keeps 48.81 in play, followed by the recovery shown on the chart.
Key levels:
71.18: x/(Y) high — invalidation
58.29: 0.786 Fib / iv area — a sustained close above weakens the projection
54.59: near resistance
53.94: current price
52.55 / 48.81: targets
Strategic Perspective for Traders
52.55 is the first level to watch for signs of (c) maturing.
58.29 is the key risk reference for the v-leg projection.
DXY and gold direction remain the main macro drivers.
Conclusion — Follow Silver’s Wave Structure With EWPlans
Silver’s final (c) leg is active, with 52.55 and 48.81 mapped as targets for completing the (IV) correction.
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