1 Jul 2020 ● 08:12 AM
Value Wave - Long term EW discussion
The chart of Manappuram shows an A-B-C correction done with the Covid crisis back to the wave 4 low of the previous advance. So I am not expecting wave C to still be developing as some are asking me online. The entire previous rise was wave 1 and wave 2 down is complete and wave 3 up is starting. That fits very well with my gold bullish view as both tend to move together mostly except if equities hit a speed bump.
Here is a long term chart of both so you get the big picture of how they are moving along apart from some deviations in between due to problems in the financial sector in general. Long term we are starting a 3rd wave at many degrees and it will take years for these trends to complete as I see it as of now.