Part 2: Is zeel preparing for a bull run?
Zeel Is Sitting On The Ticking Bomb!
Did you read the previous report of MCX Gold? If not, click the below link to read it.
- Is zeel preparing for a bull run?
Zeel has concluded a corrective structure and started an impulsive wave. The price is about to cross the recent high of 362 , but there is resistance.
Breakout traders can enter after breaking the high of 362 , and reversal traders can wait for a pullback, and they can enjoy the big move.
Invalidation: please note that pullback can't be lower than wave C .
Further, I will upload intraday (15 min and 1-hour chart) to make a setup on zeel.
Zeelelliottwaveanalysis
Is zeel preparing for a bull run?ZEEL is forming 3rd impulsive wave. Wave 2 has taken a reversal from a 61.8% Fibonacci ratio.
If zeel is forming wave 3, we should at least get a 161.8% extension of wave 1.
Target 1:390
Target 2:362
Target 3:335
Invalidation: Wave 2 can never overlap the starting point of the wave.