Not Much More To Say

It's crunch time in the metals complex.  There is no hoping, no wishing, and no guessing.  The metals are at an important juncture. 

As the structure shows on the smaller degree time frames, which is also relatively evident on the daily time frames, the market is sitting at resistance.  And, until we see GLD break out over last week's high, the set up can easily point us to a lower low.  

So, there really is not much more for me to say at this point, as I think I have said it all many times before.  The market simply has to make a decision here and now. And, should the market drop to a lower low, then it will be a buying opportunity that is closely akin to the one we had at the end of 2015.  

GLD 8min
GLD 8min
GLDdaily
GLDdaily
GDX8min
GDX8min
GDXdaily
GDXdaily
silver144min
silver144min
Avi Gilburt is founder of ElliottWaveTrader.net.