Gold MCX

Gold turned up from exactly the lower channel line that I have drawn on this chart. I will consider the recent low as a bottom near 45861 that ends wave 2 circle and a larger impulse wave that is overdue started. Now the first resistance will be the 20dma at 47600, and a close above that will add to the strength. My daily momentum indicator may cross over to the buy-side if gold prices do not fall even for another day. The upper trendline 50560 is the medium-term breakout point.