XAG/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 27.79 |
| Take Profit | 30.35, 32.30 |
| Stop Loss | 26.95 |
| Key Levels | 22.22, 23.23, 24.00, 30.35, 32.30 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 23.95 |
| Take Profit | 23.23, 22.22 |
| Stop Loss | 24.30 |
| Key Levels | 22.22, 23.23, 24.00, 30.35, 32.30 |
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) started. Now, the entry first wave of the lower level i of 3 has formed. If the assumption is correct, after the end of the local correction as the second wave ii of 3, the XAG/USD pair will grow to the area of 30.35–32.30. In this scenario, critical stop loss level is 24.00.
Main scenario
Long positions will become relevant above the level of 24.00 with the targets at 30.35–32.30. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 24.00 will let the asset go down to the area of 23.23–22.22.
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