Unfortunately, the action we have seen of late is not really lending itself to any further clarity. I still lean towards getting lower lows in the various charts. Is it doing to be an indirect manner, where we continue to chop around for more of a 4th wave structure in this region or do we see a more direct move lower in the coming week or two? I wish I could answer this question, but the market is not providing me any strong clues as to which is a high probability. But, for now, I am leaning towards more direct . . . as long as we hold below today's high.
Should we take out today's high, then we can continue to chop around before we see a lower low, or, in a potential bullish resolution, we continue higher to complete an initial leading diagonal off the lows. But, the reason I still lean towards the lower low is due to the lack of clear 5 down and a lack of a clear 5 up.
So, in summary, nothing has really changed, as I still have no evidence that the metals have begun the next major rally we expect into 2023.