Gold has shown amazing rise in just a day’s time. Was this up move predictable?
Gold had a sharp rise of 2.2% in a single day. This stark move was very much predictable and here is the proof!
Here we have shown short term chart taken from “The Commodity Waves Short Term Update” on MCX Gold which helped us to capture the up move using Elliott wave, Moving Average and Channeling Technique.
MCX Gold April 60 mins chart: Anticipated as on 11th April morning before markets opened
MCX Gold April 60 mins chart: Happened as on 11th April post trading session.
The below research is picked up from “The Commodity Waves short term update” published on 11th April morning.
Anticipated: “The shine of the Gold has been coming and going away all these time reacting to global market. Despite of the volatility, the metal has made higher highs and higher lows from last 3 trading sessions which shows that prices are heading northwards. As shown in daily chart, in the previous trading session, prices touched a high of 30779-levels and closed at around 30759-levels. Gold is moving in upward sloping blue channel and has managed to stay above its support of 50-period Exponential Moving Average which is near 30362-levels at present. Gold has completed wave 2 at around 30185–levels on the downside and presently prices are forming wave 3 of (c) on the upside……..Close above 30850 can touch 31500 or even higher levels” BANG ON!
Happened: The metal has acted exactly as we mentioned. It breached 30850-level in the previous trading session and touched a high of 31562-levels. This shows power of wave 3!
To know the in-depth analysis from Elliott wave perspective, get access to the “The Commodity Waves Short Term Update” which covers Gold, Silver, Crude and Copper with important levels. We provide intraday/positional trading advisory based on Elliott wave pattern and favorable risk reward ratio which has accuracy of 75% to 80%. Based on these methods we also gave Intraday call on Silver that achieved even the target 2 levels. It is time for you to start trading systematically using time tested methods… Subscribe here!