Quick Update - Market Analysis for Mar 8th, 2017

Mar 8, 2017 - 8:25 AM EST

I want to send an update out to the entire members on this one. We are nearing critical support for me. If we are going to turn up, I really do not want to see silver below 17.20, or GDX below 20.60. If those break, it does open the door to the mid 16's for silver, and to at least the 19.90 region for GDX. So, recognize that we are now at a critical point where the market "should" be turning up, and if it does not, it opens a potential trap door.

GDX-8min

silver5min

Avi Gilburt is founder of ElliottWaveTrader.net.

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