Gold Correction Wave Near Completion GOLD MINI FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) MCX:GOLDM1! profitadda Gold : After Making peak in 1st week of August20, Moving in a channel indicating that its in a Corrective Wave ABC , which can be further subdivide into three smaller wave of 3-3-5 type. Wave A : abc Wave B : abc Wave C: 12345 Still in Making Considering this now If we consider Wave - C of corrective wave as 5 wave pattern than it gets justified because 3rd wave of 5 wave pattern seems getting support at the 1.618 of five wave-1 which is as per ELLIOT WAVE Guideline. And with this we can expect a wave-4 bounce up to 47000 which will be 38% Fibonacci retracement of Wave-3 of same Degree. And further we can expect a last leg of corrective wave up to @ 43000 and expect a support at this Zone which also falls in vicinity of 61.8% Fibonacci retracement of Higher Degree of Impulse Wave 3 of Latest Major upside started from @ 30000 In MAy19. If Gold is able to sustain Above 48000 than It will we confirmation of Movement Above the channel it is following and also End of Corrective Wave which was started in Aug20. And we can expect Gold to start Its Journey for Next Impulse Wave BULL RUN to Make NEW HIGH