Gold MCX

Gold MCX prices have been held down by the USDINR else it's been trending higher. The MCX chart has the same markings as before except that wave iv of III may be completing and v of III has a long way to go if it has to achieve equality to wave I near 52000. The wave count holds valid till we do not fall below 48144, the wave i high. If it does we may still be in wave III but the markings will change to i-ii-i-ii that is all. 48022 at the 20dma maybe the major support.