So far only a micro 3 waves down from yesterday's high into today's low on gold and silver. Therefore, price may try for a wider wave (ii) flat on both charts before filling out wave (iii) of c lower. Not clear if that means that GDX is also still working on it's respective wave ii of C or not...
Gold definitely under performing compared to silver today, only just now reaching the 50% retrace of the recent drop with silver already exceeding the .618. Overall it looks like gold will likely get closer to the .618 retrace before wave (c) of b completes and silver can stretch closer to ~29.
Last chance for gold and silver to take advantage of the potential setup as a (i)-(ii) start to wave c of 3 off last week's low. If they do not follow through here, then likely going to roll back over in a wider flat off the April high shown in red.
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