The wave 1 after completion gave rise to wave 2, which MAY have completed OR about to complete in an expanded triangle, as shown above.
REMARK ON PULLBACK – A pullback is very much in the offing. This pullback can be strong and sudden, and may or may not start on monday.
In the mean time, need to follow the EXPANDED TRIANGLE formed until proven otherwise. In this regard , the middle line drawn in blue and the lower boundary ot the expanded triangle need to be watched (markets can have extended periods of staying on either of these boundaries )
REMARK ON MORE CORRECTION. – The forthcoming pullback will be decisive in its very nature to determine. As said earlier, we are in a bull market unless proven otherwise and all falls to be taken as corrections WITHIN the markets.
GOLD
OVERALL LONG TERM VIEW – VERY BULLISH
Medium Term- Need to watch the completion of wave 5 on smaller scale and WAVE III on bigger scale.
NIPPON SILVER ETF
Silver On massive bull run with of course intermediate corrections.
MOTILAL OSWAL DEFENCE ETF
