Growth is possible.

On the weekly chart, the upward third wave of the higher level 3, within which the wave (3) of 3 develops. Now, the third wave of the lower level 3 of (3) is forming, within which the wave v of 3 is developing. 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 29.98.

Main scenario

Long positions will become relevant above the level of 29.98 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 29.98 will let the asset go down to the area of 26.28–21.91.