XAG/USD Elliott Wave Analysis: Mapped 48.8 Zone Hit — Rebound Targets 54.07
On 23 October we mapped silver’s Wave (c) v-leg toward 52.55 and 48.808. Price reached the second target, bottomed near 48.62, and has bounced to 52.58.
Where Is XAG/USD Right Now?
High: x/(Y) at ≈71.18
Correction: W (≈62.3), X (≈67.55), then Z/Y with (a) ≈60.3, a contracting triangle as (b), and (c) with internal i-ii-iii-iv-v
Low: v-leg ended near 48.62, matching the 1.618 Fibonacci at 48.808, completing (c)/Y/Z/(IV)
Rebound Map
First target: 2.618 Fibonacci at 54.07
A small pullback
A further advance toward ≈58.5–59
Key Levels
71.18: x/(Y) high
60.30 / 56.56 / 55.40: resistance
54.07: first target
52.58: current price
50.57: support
48.62: invalidation
Strategic Perspective
54.07 is the first level to watch; a clean break supports continuation.
55.40 and 56.56 will show how strong the rebound is.
DXY and gold direction remain key external drivers.
Conclusion
Silver’s correction appears complete at the mapped zone. At EWPlans, we update H4 and D1 wave counts on 39 instruments every day.