KirkBarton

XAG/USD: wave analysis

OANDA:XAGUSD   Silver / U.S. Dollar
The pair is in a correction, a fall is possible.

On the daily chart, the first wave of the higher level (1) of 3 formed, and a downward correction develops as the wave (2) of 3. Now, the wave C of (2) is forming, within which the third wave of the lower level iii of C is ending. If the assumption is correct, after the end of the correction iv of C the price will fall to the levels of 20.53–18.30. In this scenario, critical stop loss level is 25.95.
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