![](https://2.bp.blogspot.com/-oX_68Pn6918/S5PCmH3VSsI/AAAAAAAAVE0/ho1IgQq0luskUWni5ReHEd5P1WHZ0qi7QCPcB/s320-rw/Gold.jpg)
![](https://2.bp.blogspot.com/-10K8B1UarGQ/WP3pujOZEJI/AAAAAAAAVM0/44TwwJS4_KIzokLPQjEvKLuBi0VVCygbwCLcB/s1600-rw/Nickel.png)
Gold has seen a “5 Wave” rise from the low of 1240.It is witnessing a correction of previous upmove. Therefore, a correction towards 1274 and 1267 (38.2% and 50% retracement levels, respectively of the previous upmove) is possible. However, dips towards the support levels should be seen as a buying opportunity, as the short and the medium-term trends continue to remain bullish. On the way up, a rally towards 1310-1325 is likely once it manages to cross 1295. The momentum indicator is in a ‘negative’ mode.
Youtube Video Link : https://www.youtube.com/watch?v=zEsKytVpTas