The 3-impulsive Wave was considered extended with 316% of the 1-Wave included numbers of gaps. A, B, C, and D is a parallel channel of the 4-wave. The price was traveled to appro. 38.2 retraced from 3-wave.
The 5-wave minor crossed of 3-wave on the account of extended move seen 3rd wave.
We then came down to the level marked wave 4, but I have put a question mark there. This is because there is a small chance that we are in the middle of a complex correction and so wave 4 might have finished at the point where I have tentatively placed the number (A) to the right. As far as the investor is concerned, he should have gotten out of this stock at the point marked wave 5 top because that was as high as one could ride his luck in an extended fifth wave. In the not too distant future, we should expect Gold to be dumped and for it to reach the low 41000 levels.
Attention: it can surge for 49000 to 50000 after a breakout of wave fifth top.
Check the previous chart (27 April 2020) to know more.
Link: MCX Gold vs. Crude oil – Tips & Update
…and also refers to the 11 May 2020 article: MCX Gold Long-Term Trend Analysis & Tips (As mentioned, the gold made the final rally and hit 48000. What else you want?)
STAY HOME – STAY SAFE – SAVE LIVES
COVID-19 Special Offer is running.
Get flat 50% OFF on Commodity pricing plans: Click Here
Would you like to get our all commodity updates instantly? We have an option for you.
Click Here: Free Commodity Tips
Do you want to get Premium Calls only?
Click Here: Premium Commodity Tips
If you have any questions or concerns about Commodity Market then contact by following ways:
Email: [email protected]
Phone: +91 903 386 2706
Have you any question/feedback about this article? Please leave your queries in the comment box for answers.