MCX Gold Analysis. As on Thurs 8 April, 2021. CMP 46,300 Posted at 8:00 am. Bottom line : Price remains in a downtrend.  But there are conflicting signals, and the picture is not clear. An impulsive 5 wave up, or a rally above 49,500 may cause a re-evaluation. Price remains in a downward trend channel, […]

5 March 2021 4 Jan 2021 25 Nov 2020 14 Oct 2020 MCX Gold Analysis. As on Friday 5 March 2021. CMP 44,280. Posted at 11:10 am. Bottom line : The breakdown from 47,550 was the first clue the trend had turned lower.  The decline does not appear complete. Trend channel : Price is testing […]

4 Jan 2021 25 Nov 2020 14 Oct 2020 MCX Gold Analysis. As on Monday 4 Jan 2021. CMP 50,809 Wave ii down appears complete at 47,550.  Wave iii up should carry above 56,191. Today’s gap up has raised the probability that a wave iii rally is underway.  This count holds good as long as […]

25 Nov 2020 14 Oct 2020 MCX Gold Analysis. As on 25 Nov 2020. CMP 48,455 There is a possibility the larger rally completed at 56,191, but as long as 45,748 is not violated, the probability is for continuation of the larger rally. Primary count : Price appears to be completing wave ii of an […]