XAGUSD is in a possible 4th wave in an impulse series. This correction has potentially run its course indicated by the high level . I will watch for the correction to either continue to the upside or begin the 5th wave and immediately retrace down to the 1st . If it is indeed in an impulse , then it should continue its decline breaking the 161.8% Fib level as well as the 1st into the with a possible rebound on the 2nd . A close below the 50 MA will be a very good reassurance of a confirmed 5th wave downtrend.