Price correction active, still likely to increase.

On the daily chart, the third upward wave of the older level (3) is being formed, within which wave 3 of (3) has ended and a correction in the form of the fourth wave 4 of (3) can be observed. At the moment, wave a of 4 has ended and a correction in the form of wave b of 4 has begun to form. If the assumption is correct, the XAG/USD pair will rise to the level of 32.68–33.37. The critical stop-loss for this scenario is the level of 29.62.

Basic scenario

Long positions are current above 29.62 with targets 32.68–33.37. Deadline: 7 days and more.

Alternative scenario

A breakout and stop of the price below the 29.62 level will enable the trading instrument to continue its downward dynamics towards the 27.74–26.00 levels.