A fall is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), and the third wave (3) develops, within which the entry first wave 1 of (3) ended, and a local correction forms as the second wave 2 of (3). Now, the wave a of 2 is developing, within which the fifth wave of the lower level (v) of a is forming. If the assumption is correct, the XAG/USD pair will fall to the area of 21.76–20.80. In this scenario, critical stop loss level is 23.30.

Main scenario

Short positions will become relevant below the level of 23.30 with the targets at 21.76–20.80. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 23.30 will let the asset grow to the area of 24.45–26.06.