Quotes of the XAG/USD pair continue the downward trend around 27.89. The instrument lags significantly behind its main competitor, gold, which remains close to historical highs.

The price is in a correction and may grow.

On the daily chart, the third wave of the higher level (3) develops, within which the wave 3 of (3) forms. Now, the third wave of the lower level iii of 3 has formed, and a local correction is ending as the fourth wave iv of 3. If the assumption is correct, after the XAG/USD pair will grow to the area of 35.50–38.70. In this scenario, critical stop loss level is 25.90.