2 Out of 3 Over Pivot


The Passover holiday just ended, so I wanted to get a quick note out regarding the metals.  

Both GDX and silver are now over their respective pivots.  Yet, GLD/GC still are a bit of an issue and can still support one more pullback before the heart of a 3rd wave is confirmed.

So, if you are choosing to take more aggressive longs over the pivot in silver and GDX before GC/GLD confirms, you can set tight stops at just below the pivot.   At this point in time, if we are indeed in the heart of a 3rd wave, we should not see levels below the pivot.

Overall, the bigger picture remains the same, with the targets for the next several months noted on the various charts.

GC60min
GC60min
GLDdaily
GLDdaily
GDXdaily
GDXdaily
Silver-144min
Silver-144min
SLVweekly
SLVweekly
Avi Gilburt is founder of ElliottWaveTrader.net.


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