#GOLD INR anticipated path on Longer Term Charts

#ElliottWave

NIFTY & US 10 Year Yield have a high degree of positive directional correlation. Anyhow, they are diverging at the moment though the divergence can go on for a long period of time as well, last time around this divergence did not work well for NIFTY & it got pulled down.

US10Y going down simply implies funds moving into Bonds and with EM's broadly down from Jan Highs this adds up as well.
That makes NIFTY an outlier, with the philosophical question being for how long can we persist?

This is one of the structural perspectives, however, it all rightfully boils down to the actual NIFTY's price action and that hasn't given any severe indication yet.
Though we must stay on guard.

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#Bitcoin has completed a Zig Zag formation from it's inception.
Break below Orange Trendline would confirm the termination.
Post that it can correct to the shaded zone by the given time frame.
It's been a major surprise that it all transformed into a Zig Zag and not an Impulse.

Other Technical factors:
• An H&S breakdown
• Break below Anchored VWAP from March 2020 Lows
• Volume Distribution

Gold looks set to head to New Highs.
$GC_F

Why Gold could be 'The' asset to focus on and how to play it?

In 2021, gold hasn't done much. Its down 6% YTD. It was up a clean 20% in 2020.

What could be in store ahead. A thread 🧵 explaining drivers and way ahead.

There are 4 factors that are key to watch

1. Massive financial debasement across the world

2. Negative Real Interest rates

3. Gold's unique diversification edge

4. Incremental demand Vs limited supply

Financial debasement
US Fed's balance sheet has doubled from $4.2 trn to $8.4trn since COVID began. Similarly ECB, BOJ, BOE and EM central banks have embarked on massive monetary stimulus.

This was used to finance Govt deficit. This monetization/debasement is bullish for Gold.

Negative real rates
Gold prices follow moves in interest rates. Real interest rates are the nominal level of interest rates minus the inflation rate. Negative real rates erode the value of money. Gold being a store of value benefits from this...

Real rates are the most negative that they have been. Even junk bond yields have turned negative adjusted for inflation.
Gold moves inline with moves in real rates. With inflation still above normal trend and central banks likely to keep rates low, Gold is likely to benefit.

Gold Sentiment has collapsed to the lowest since the 2018 Bottom.

Price has formed a huge 7-Month *potential* ABC Bull Flag into critical support.

Positioning has been wiped out (charts later this week).

Look for DSI to turn up soon – maybe the initial stages of a big rally.

Nice Run. Eight weeks into the new #Gold Weekly Cycle and now there is some renewed interest.

Gold now stands at the fork and an important tell is up ahead.

My views are in this blog post from few weeks back.

Link >> https://t.co/RrA0WhiZQb

Junior Miners finally showing a lot of promise for a bull market resumption.

Gold trading strongly counter to risk selloff. That's the type of gold action i like..

A strong close today and this Gold weekly chart shows so much promise. And silver looks 🔥

We've been in Silver since early April.

GOLD: I don't understand what's so complicated about Gold.

Below 1920: Must avoid.

Above 1920 on weekly and monthly closing basis: Breakout of epic proportions.