Follow Up - Market Analysis for Apr 16th, 2019

Silver and GLD are telling two difference stories.  Silver is still showing signs of bottoming, but if it breaks 14.60, then I cannot maintain that perspective.  Yet, until GLD can get back over 123.77, the rally yesterday was corrective, and pressure remains down below that level.  So, caution is advised as long as GLD remains below 123.77, as a bigger pullback may not be in progress.  I will discuss in more detail in the update tomorrow evening.

GLD-daily
GLD-daily
silver144min
silver144min
Avi Gilburt is founder of ElliottWaveTrader.net.