XAGUSD: Two Scenarios

XAGUSD, Daily

In the daily timeframe, XAGUSD is declining, with the price facing the 100-MA at the 31.90 support level.

The MACD oscillator is in the decline and aims to cross the 0-line down, suggesting two potential scenarios:

• If the price bounces from the 31.90 support, it will start to rise to 33.00;

• A breaching below the 100-MA will drop the price to 30.90 support;