GOLD INDIA DIVERGENCE

Unlike international gold spot, regional gold prices have a currency element also. The Indian spot Gold is denominated in Indian Rupee. Hence studying Gold India spot gives cues both on INR and international Gold prices. The respective asset is making a clear multi month intermediate B wave leg up and is clearly non confirming its global peer (international spot gold). The prices on the Gold India spot are making a clear corrective which is getting ready to crash down in a C wave.
B waves are always tricky, so pinpointing a reversal may not be easy. However, such a large corrective clearly suggests that our preferred view of just a marginal retest on international gold prices till $ 1000 is the best case scenario for Gold. In case prices break above 980-1000, this latest report on Gold carries an Alternative Triangle formation on the asset.
The reverse Head and Shoulder continues to retest previous multi year levels. More the test, more likely the break. We should not forget our preferred FLAT has to create a BULL trap before anything.
Silver is still below key resistance line. Platinum and Aluminum are making intermediate final legs up. Nikkei Iron and Steel seems to have topped.
Enjoy the latest WAVES.GOLD
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WAVES.GOLD is a perspective product published on Tuesday and Thursday. The report highlights GOLD and other precious and base metals. The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers.
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