Gold Mcx

Gold prices because near the trendline of the last 2 highs even as the daily momentum indicators remain positive. This is the last time to consider whether wave 4 is still forming. If we do not breakout above the top end at 48,960 then it may be possible that we retest the lower end of the broadening range near 46,320. But this is not a given, it is possible that the upward move simply continues after a short pause or find support near the 20 DMA at 47,100. A little bit of choppiness that needs to be watched out for in the near term.