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).
According to the above chart, silver is close to the red zone. We may see a downside rally up to 53260 – 52400 – 51500 – 50686. Follow XAGUSD’s above instructions before selling MCX Silver.
If silver remains above the 54400 level, it’s a safe area. Currently, I have written about the downtrend only. To know uptrend possibilities, subscribe now.
Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas.
Tue, Aug 30, 2022
19:30 JOLTs Job Openings (Jul) & CB CC (Aug) – Medium Impact
22:30 FOMC Member Williams Speaks – Medium Impact
Wed, Aug 31, 2022
02:00 API Weekly Crude Oil Stock – Medium Impact
17:30 FOMC Member Mester Speaks – Medium Impact
17:45 ADP Nonfarm Employment Change (Jun) – High Impact
20:00 Crude Oil Inventories – High Impact
Thu, Sep 01, 2022
18:00 Unemployment Claims – Medium Impact
19:30 ISM Manufacturing PMI – High Impact
Fri, Sep 02, 2022
18:00 Non-Farm Employment Change & Unemployment Rate – High Impact
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