XAG/USD Elliott Wave Analysis – Silver’s Fifth Wave in Progress?

🚀 XAG/USD Elliott Wave Analysis – Silver’s Fifth Wave in Progress?
📊 Market Context:
Silver is closely following gold’s price action, showing a strong correlation with gold and a potential bullish structure. The market is in the fifth wave of the third wave in a larger degree, indicating further upside potential.

📉 Key Levels to Watch:

Bullish Scenario (Conservative Approach): Any corrective structure—whether shallow and superficial or deep and fast—will be crucial in validating the continuation of the uptrend.
Aggressive Scenario: The impulsive wave structure must remain intact, without invalidating the key price level that would disrupt the bullish outlook.
📈 Silver’s Bullish Roadmap:
If silver holds above its critical support level, we expect a continuation of the rally as part of a larger third-wave extension. A confirmed impulse structure will indicate that the market is setting up for a powerful fifth wave movement.

💡 Correlation with the US Dollar (DXY):

Weakening DXY → Supports precious metals, boosting silver prices.
Strengthening DXY → Could trigger a short-term pullback (correction) or a longer-term consolidation, which needs to be monitored over time.
🔎 Key Takeaways:
✅ Silver is positioned for further gains if the correction holds above key support.
✅ A confirmed five-wave rally strengthens the bullish scenario.
✅ The correlation with gold and DXY should be closely monitored for confirmation signals.

📢 What’s Your View?
Do you agree with this Elliott Wave count? Drop your thoughts in the comments!

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