XAG/USD: WAVE ANALYSIS

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XAG/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point28.78
Take Profit31.65, 35.50
Stop Loss26.81
Key Levels23.90, 25.00, 26.81, 31.65, 35.50
Alternative scenario
RecommendationSELL STOP
Entry Point26.80
Take Profit25.00, 23.90
Stop Loss27.40
Key Levels23.90, 25.00, 26.81, 31.65, 35.50

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, a correction ended as the second wave 2 of (3), and the wave 3 of (3) develops. Now, the entry first wave of the lower level i of 3 is forming, within which the wave (iii) of i is developing. If the assumption is correct, the XAG/USD pair will grow to the area of 31.65–35.50. In this scenario, critical stop loss level is 26.81.

XAG/USD: WAVE ANALYSIS

XAG/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 26.81 with the targets at 31.65–35.50. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 26.81 will let the asset go down to the area of 25.00–23.90.


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