Chart of the day

XAGUSD is breaking above the strong resistance of 26. It seems that we have an upside continuation in the five waves and this could be a third wave that can target the 29.14-29.80 zone. We need to see an upside breakout confirmation.

Only in the case of a break below 25.80, we can expect a reversal lower and a swing consolidation to continue. A confirmed break above 26 would lead to an extension higher and a test of the mentioned zone.

_{Look for the long trades here with the stop loss below 26 or wait for a pullback to 26. Short trades you can take in the case of a confirmed price action break below 25.60.}

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