Chart of the day

Where do we stand fundamentally?

Inflation all over the world is not coming down but the Central banks started to cut rates making that a really dangerous case for pouring gasoline on the fire. Metals are reacting to that,

XAGUSD is going for an attack on 32.60 in an extension higher in the third long-term upside Elliott Wave. A break above this level is required for an extension higher in a third wave.

We are seeing an ongoing test of the 31.50 which will then open the door for a test of 32.60.

_{Look for long trade entries with a stop loss below 31 to target 32.60 and higher.}