click on chart to enlarge it
i did not add everything into it due to my professional commitment but some waves and patterns you may see clearly
as chart indicating we are on extension of 5th wave…. could not post bigger chart for a broad view but it is an extension and it was a healthy retracement last night and as we anticipated it has taken support of 1814-10$ now this is a key support … i hope you remember this post
http://mohdarafat.com/2011/08/19/gold-support-levels/
so now there are two cases
a) support remain same… wave extension got a healthy correction so we may lead till 1920-1980-2020 before going for a healthy correction
b) 1810 below 2 weekly closing … wave extension will be ruled out and we may lead correction till 1600-1500 that will be a temporary phase keeping in mind no world panic news comes in between
above two cases you need to keep in mind no matter you are in position or looking to enter into this yellow commodity.
remember key levels
for any clarification or service details write me at
mohd-arafat@live.in
