Growth is possible.

On the daily chart, the third wave of the higher level (3) develops, within which the first wave 1 of (3) formed, and a correction ended as the second wave 2 of (3). Now, the third wave 3 of (3) has started, within which the first wave of the lower level i of 3 is developing. If the assumption is correct, the XAG/USD pair will grow to the area of 25.88–27.00. In this scenario, critical stop loss level is 23.15.

Main scenario

Long positions will become relevant above the level of 23.15 with the targets at 25.88–27.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 23.15 will let the asset go down to the area of 22.22–21.50.