As per Elliott Wave Theory, the gold charts indicates a completion of a Flat ABC Correction that signals a new wave to upside. This is a good time to invest or take a swing trade position in this before the festive season begins in India where we generally see rise in the Gold market. Take positions with stoploss at 87200 Target 1: 90000 then Target 92400.
Reason : Small downside correction is over. This to trigger further upside move as continuation of prevailing uptrend.
TImeframe : By end of September.
