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XAGUSD, Elliot Wave Analysis

12/5/2022 10:38 AM

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2) and the third wave (3) forms, within which the first entry wave of the lower level 1 of (3) develops. Now, the wave iii of 1 is developing, and the wave (v) of iii is forming. If the assumption is correct, the XAG/USD pair will grow to the area of 24.00–25.00. In this scenario, critical stop loss level is 22.26.

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