Growth is possible.

On the daily chart, the upward third wave of the highest level (3) and the wave 3 of (3) develop. Now, the third wave of the lowest level iii of 3 is developing, within which the wave (iii) of iii and the correctional wave (iv) of iii have formed, and the wave (v) of iii is developing. If the assumption is correct, the XAG/USD pair will grow to the area of 57.00–60.00. In this scenario, the critical stop loss level is 48.00.

The XAG/USD pair is showing mixed performance in the Asian session, consolidating around 51.00 dollars per troy ounce after a significant gain earlier in the week, primarily due to the weakening of the US dollar following the announcement of the end of the record-longest economic shutdown.

The XAG/USD pair is correcting at 48.55, maintaining a 70.0% year’s return. The current dynamics of metal prices are caused not by fundamental factors but by technical ones, as industrial demand for them has remained virtually unchanged. 

On the four-hour chart, in the area of 47.63, a Spinning Top candlestick pattern is being formed, which signals uncertainty in the market and points to a temporary parity of forces.