Metals & Miners Morning Update
Not very encouraging action off the 2 as any clear start to 3 of (1) on GC, but it is trying to hold that low and maybe eek out an LD for i.
SI could still attempt more consolidation as iv of 1, especially since the i & iii look like (a)(b)(c) moves.
**HG, like the equity market did not get much of any clear b-wave bounce, but it has stretched in a c of (ii) closer to the 61.8%.**
Since the (i) of circle iii of 1 on HG got closer to the .618 it is reasonable for the (iii) to get past the 100% at 3.985.
PL is easily just a b-wave bounce in a wider/deeper (b).
GDX could easily be an alt (i)-(ii) of an LD for circle i of 1, or even an (a)-(b) of circle i of 1. But it certainly does not have 5up3down yet off the Sept low.
TXGM managed to hold the July low by a thread.
Been a minute since we have looked at the HUI, I cleaned that up a little. The (5) of a much larger LD for P.1 of Cycle III should be an ABC move, the challenging part is that A can be either abc or i-v.