GOLD MCX

Gold has possibly completed its complex correction in wave II and now it looks like wave III is unfolding, today it has given breakout from the down sloping resistance trendline, along with macd positive crossover and uptick in daily time frame, other indicators are also giving positive signs of uptrend at breakout point, as wave III unfolds, gold can possibly rise higher towards 52000 and more, one can go long at these levels or in dips ( if any ) with key levels mentioned on chart.


wave struchture could be like this

key levels are mentioned on chart

macd in weekly

macd in daily

ready to bbc

rsi in daily uptick and ready to cross above 60 levels

dmi adx positive ungali


Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing