Growth is possible.

On the daily chart, the third wave of the higher level (3) forms, within which the wave 3 of (3) develops. Now, the third wave iii of 3 is forming, within which a local correction has ended 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 25.89.

Main scenario

Long positions will become relevant above the level of 25.89 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 25.89 will let the asset go down to the area of 21.91–19.40.