XAG/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 30.22 |
| Take Profit | 35.50, 38.70 |
| Stop Loss | 29.26 |
| Key Levels | 21.91, 25.94, 29.26, 35.50, 38.70 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 29.25 |
| Take Profit | 25.94, 21.91 |
| Stop Loss | 30.35 |
| Key Levels | 21.91, 25.94, 29.26, 35.50, 38.70 |
The price is in a correction and may grow.
On the daily chart, the third wave of the higher level (3) develops, within which the wave 3 of (3) develops. Now, the entry first wave of the lower level i of 3 has formed, a correction has formed as the second wave ii of 3, and the third wave iii of 3 is developing, within which a local correction is ending as the wave (ii) of iii. If the assumption is correct, the XAG/USD pair will grow to the area of 35.50–38.70. In this scenario, critical stop loss level is 29.26.
Main scenario
Long positions will become relevant above the level of 29.26 with the targets at 35.50–38.70. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 29.26 will let the asset go down to the area of 25.94–21.91.
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