Gold Buy OR Sell ???

Dear All,
                  Last week Gold sold off badly in last week ....Now what next ......let analyze diffrent possibility.

1.Bullish In Short term 15--30 days .


It seems Gold has declined in 5 wave down .And Now we expect to move upside for retracement.

chk the chart

Now let chk some Fibo Relationship .

1.    1.   Wave 5 is most of time 138% of wave 4 , that’s exactly what had happened here , there is a possibility of declined to 161.8% is still open .

      Wave 5 target is also 38.2% or 61.8% of Wave 1-3 ….thats exactly so far prices have reached .....Now We Think .....We can Buy MCX Gold Dec with stoploss of 30300 basis for target mention in chart . Below close of 30300 Bearish scenario will come into play given below ...........till 30300 hold on closing Bulls will bounce back .

22. Bearish In Short to Medium term  1---3 months. --- As per this scenario we are into 3 wave down of Big C wave down with targets A=C --- 29676, 1.618 A to B =28587.

Thanks & Regards
Abhay Mehrotra

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