The XAGUSD chart shows the prerequisites for the resumption of the downward trend.
The XAGUSD chart reveals a Wolfe Wave pattern, indicating a likely downward movement. After the formation of point 5, which is the lower point of the series of waves, a trend reversal is expected. The upper resistance line can be drawn through points 1, 3 and 5, and the lower support line through points 1 and 4.
It is recommended to focus on short positions on XAGUSD. Entry points can be detected now or upon the technical confirmation after a retest of this level.
📌 Entry: 47.133
✔️ First goal: 46.714
❌ Stop order: 47.222
