XAG/USD: WAVE ANALYSIS

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XAG/USD: WAVE ANALYSIS
Scenery
TimeframeWeekly
RecommendationBUY
Entry point29.12
Take Profit35.50, 38.70
Stop Loss28.53
Key levels21.91, 25.82, 28.53, 35.50, 38.70
Alternative scenario
RecommendationSELL STOP
Entry point28.50
Take Profit25.82, 21.91
Stop Loss29.40
Key levels21.91, 25.82, 28.53, 35.50, 38.70

The probability of growth remains.

On the daily chart, the construction of the third wave of the higher level (3) continues, which consists of the development of wave 3 of (3). At this moment, a third wave of lower level iii of 3 is forming, in which the local correction was completed as wave (iv) of iii. If the assumption is correct, the XAG/USD pair will rise in wave (v) of iii in the area of ​​35.50-38.70. The critical stop-loss level for this scenario is 28.53.

XAG/USD: WAVE ANALYSIS

XAG/USD: WAVE ANALYSIS

Main stage

Long positions are relevant above the level of 28.53 with targets of 35.50–38.70. Implementation period: 7 days or more.

Alternative scenario

The breakout and consolidation of the price below the level of 28.53 will allow the trading instrument to continue the downward momentum in the area of ​​25.82–21.91.


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