Silver prices are showing modest gains during the morning session, recovering from the sharp downtrend seen over the previous two sessions and moving away from the local lows updated the day before; at present, prices are testing the 72.10 level for a potential upside breakout, while investors are awaiting fresh catalysts that could define the future trajectory of the XAG/USD pair.

The probability of growth remains.

On the daily chart, an upward third wave of the higher degree (3) has formed, and the corrective fourth wave (4) has completed, while on the four-hour timeframe the fifth wave (5) is developing, including the first wave of the lower degree i of (5) and a correction in the form of the second wave ii of (5). If this scenario proves correct, the XAG/USD pair’s upward trend is expected to continue toward the 96.50–122.00 zone, with a critical stop loss level at 73.76.