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XAGUSD, Elliot Wave Analysis

11/21/2022 10:26 AM

The asset is in a correction, a fall is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), within which the wave C of (2) formed, and the development of the third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) has formed, and the correctional wave ii of 1 of (3) is forming, within which the wave (a) of ii is forming. If the assumption is correct, the XAG/USD pair will fall to the area of 19.88–19.32. In this scenario, critical stop loss level is 22.22.

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