Hi there everyone.

Here's a quick update on the wave counts in the Gold and Silver.

We are seeing a near term correction which should lead to another wave up in both.

 

GOLD

1 hr

4 Hours

Daily


Gold has corrected higher in a small three wave move off the wave 'a' low today.
It looks like wave 'b' is almost complete now,
and wave 'c' down should begin tomorrow and hit that initial target area at 1297 over the next few sessions.
If the price hits that level and rebounds higher in an impulse form,
that could be a sign that the alternate count shown is more likely.

Tomorrow;
watch for Wave 'b' to complete early tomorrow and wave 'c' to drop towards 1297.

 

SILVER

1 hr

4 Hours

Daily


Silver has rallied in a minor 'b' wave which I suspect is not done just yet.
Todays session was a sideways affair,
one more spike into 16.00 again will complete three waves within wave 'b'.
And then we should see a return lower in wave 'c' towrds 15.50 to complete the larger wave (ii).
The minimum target for wave 'c' lies at 15.67 the wave 'a' low.

Tomorrow;
Watch for wave 'b' to finish in three waves at about 16.00.