XAG/USD: Bearish wave X completion signals the beginning of a bullish wave Z


XAGUSD suggests the formation of a global triple zigzag consisting of cycle waves w-x-y-x-z.


On the current chart, we can see the internal structure of the second intervening wave x, which may soon be completed, taking the form of a triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.

The primary wave Ⓨ consists of intermediate waves (W)-(X)-(Y) and looks finished. Perhaps the primary intervening wave Ⓧ could also come to an end, at the moment it has the form of a zigzag (A)-(B)-(C).

Now market participants can expect growth in the primary wave Ⓩ to 25.440. At that level, it will be at 76.4% of wave Ⓨ.


Let’s now look at an alternative markup option, where the development of the cycle intervening wave x has already been completed, and in the last section we see the initial part of a new bearish wave z.

Perhaps wave z will be a standard zigzag, as shown on the chart, and will complete its pattern near 15.268. At that level, it will be at 76.4% of actionary wave y.

The nearest target where the price can reach is the level of 17.483, which is marked by a cycle wave y. Here the impulse sub-wave Ⓐ can be completed, and an upward correction Ⓑ can begin.