(XAGUSD & MCX – EwavesJournal View)
🧭 Overview
This is a structural update on Silver based on the 3-hour timeframe, covering both XAGUSD and MCX Silver. This is not a trading call, but a higher-timeframe structure assessment.
📐 Structure Position
Silver has completed a strong impulsive advance and is currently transitioning into a corrective consolidation phase. The initial pullback satisfies the minimum corrective requirement, while the broader bullish structure remains intact.
🧠 Market Context
After near-vertical expansion, Silver is correcting through time rather than depth. Overlapping and volatile price action reflects consolidation and digestion, not structural weakness.
🎯 Key Zones & Levels
XAGUSD (3H)
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⛔ Upper Supply / Range High: 120.50 – 121.65
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🟢 Key Support / Range Floor: 102.50 – 100.00
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🧱 Major Structural Support (HTF): 70.00
MCX Silver (3H)
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⛔ Upper Supply / Range High: ₹415,000 – ₹421,000
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🟢 Key Support / Range Floor: ₹360,000 – ₹345,000
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🧱 Major Structural Support (HTF): ₹160,000
As long as price holds above the key support zones, the higher-timeframe bullish structure remains valid.
🔮 Expected Behaviour
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Sideways / range-bound movement likely
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Time-based consolidation (triangle / complex correction) favoured
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Immediate continuation unlikely without consolidation
🔄 Continuation Triggers
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XAGUSD: Impulsive 3H close above 121.65
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MCX Silver: Impulsive 3H close above ₹421,000
⚠️ Invalidation / Risk Levels
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XAGUSD: Sustained 3H close below 100.00
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MCX Silver: Sustained 3H close below ₹345,000
✅ Conclusion
Silver remains in a bullish higher-timeframe structure and is currently undergoing a healthy consolidation phase. Patience is required before the next directional move.
📌 Disclaimer
This analysis is for educational and informational purposes only. It represents a structural market view, not a trading or investment recommendation. Markets involve risk; manage risk according to your own judgment.
#Silver #XAGUSD #MCXSilver
#MarketStructure #TechnicalAnalysis #PriceAction
#TrendAnalysis #WaveStructure #EwavesJournal
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