Quick Update In Metals
This may be a bit premature, but let me start preparing you for upside targets if we break out. But, if GC does push a bit higher today, then there is an argument that wave ii may already be done.
I have added a major pivot on the GDX chart, and you have had it already on the gold chart. A break out near term will clearly point us to the pivot. But, the wave (3) of 3 target in GDX is a MINIMUM of 38.40, but more likely north of 41.
As far as gold, I think wave iii of 3 will likely point us north of 2550, most likely the 2330-2375 region.
As far as silver, well, it really should be getting a big catch up move, which means I could expect the mid 30's to 41. This has been so lagging, it will ultimately see a big move to catch up, and I think wave iii can be that initial move.
So, again, stay on your toes. The set up for a major break out is still developing.