Medium-term Uptrend :

The Gold’s 25% countertrend rally(in a five-wave structure) that started in early-December, should be first portion of the process of correcting up in the Primary wave ((B)). Subsequently, Intermediate wave (A) would be corrected now in its same degree wave (B) (potentially to the Fibo 0.50 retracement level).

Note : As denoted on the chart below, the wave (A)’s extreme well achieved the origin of the prior bullish diagonal as Intermediate wave (5). (technical targeting based on the patterns)

Gold - Weekly

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