XAG/USD: WAVE ANALYSIS

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XAG/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point23.73
Take Profit24.60, 25.88
Stop Loss23.15
Key Levels19.80, 20.61, 22.20, 24.60, 25.88
Alternative scenario
RecommendationSELL STOP
Entry Point22.15
Take Profit20.61, 19.80
Stop Loss22.75
Key Levels19.80, 20.61, 22.20, 24.60, 25.88

Growth is possible.

On the daily chart, the third wave of the higher level (3) develops, within which the first wave 1 of (3) formed, and a correction ended as the second wave 2 of (3). Now, the third wave 3 of (3) has started, within which the wave i of 3 is developing. If the assumption is correct, the XAG/USD pair will grow to the area of 24.60–25.88. In this scenario, critical stop loss level is 22.20.

XAG/USD: WAVE ANALYSIS

XAG/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 22.20 with the targets at 24.60–25.88. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 22.20 will let the asset go down to the area of 20.61–19.80.


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