The probability of growth remains.

On the daily chart, an ascending third wave of the senior degree wave (3) is developing, which formed wave 3 of (3) and completed the correction as the fourth wave wave 4 of (3). Meanwhile, on the four-hour time frame, the fifth wave wave 5 of (3) is forming, developing the first wave of the junior degree wave (i) of i of 5. If this scenario proves correct, the XAG/USD pair’s upward trend is expected to continue toward the 71.50–78.70 zone, with a critical stop loss level at 54.46.

The XAG/USD pair is showing a slight decline during the Asian session, developing the “bearish” momentum of the previous session and testing the 57.5 dollars per troy ounce level for an upward breakout, while investors remain focused on developments surrounding the geopolitical crisis in the Middle East, which has again become the main source of uncertainty in recent weeks.