Gold Monthly View - Rakesh Chandra

Last week I expressed my view on Gold, that it had become bullish. On the weekly scale, Gold is in its 5th up wave. It has behaved the same way. This week, we first went up then in the last 2 days we have a decline, which shows that it is consolidation but still in its bullish range. Any decline is a buying opportunity.

The current values are valid for this monthly only:

UPWAVE (4-5) MUT3: 998;
UPWAVE (2-3) MUT2: 979;
UPWAVE (0-1) MUT1: 949;

Gold is bullish above pivot point 931, and bearish below pivot point 930.