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MCX GOLD – Intraday Setup For Subscribers
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Click Here: Commodity Silver’s MOON to EARTH Journey May Start
XAGUSD investors must fear to 18.305 level. At the current stage, it is strong support.
And if that happens with a breakout, be ready for the 17.00 and 16.00 levels because it’s a very crucial point for short-term investors.
My point is to explain XAGUSD first because it closed at 18.902, and whenever it comes to hit the 18.305 level at that moment, the MCX silver will try to fill the following area (see the chart below).
There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line.
According to the above chart, Gold is forming a bullish flag pattern. And we’re waiting for a breakout of the flag pattern. This breakout will skyrocket the gold price, and we can see 6400+ points of bullish movement here. Long-term target for gold 58000 – 60000.