Loading ...Useing gold I agree with Samb the down move is a 2nd wave….then we get to was it just the A wave and now we are in the B wave up with C down/sideways to follow…or was that all of the 2nd wave and now this up move is the 3rd wave …which means we don’t stop..
Time says either the Sep/Feb move up was 19 weeks, then we do 5 weeks down, now in 3rd week up, so have room for a C wave down’/sideways, in terms of Time …but not much, as the down wave is very unlikely to be longer than the up wave….Waht is certain, when we do go up we explode, as look how fast this up move is and if it is only a B wave, imagine how fast the 3rd wave will be…..in fact the speed/power is already suggesting this is a 3rd wave.
If I look at the shares via GDX, on the Monthly chart, life is simpler …we see 5 Months up from the Sep Low, then 3 Months down, the down move ended on a closing basis @ the 50 % area,of the up move… both 5 and 3 are Fib No’s and 3 is a near perfect 62 % of 5, so the correction fits in terms of time and price….therefore the shares should continue on up, waves 1 and 2 have been done, of wave 1 of super wave 3…..
Silver on Monthly close only basis shows similar to GDX 5 months up, 3 months down and ended @ the 50 % level…