AVI G: Final Run To Lower Lows Setting Up (GDX)
Can’t wait for final low in PM sector!!!!
————————————————————————————————
For AVI G followers:
Final Run To Lower Lows Setting Up (GDX)
This past week, when the market chose to not take this corrective rally higher, it may have provided our answer. With the more complex w-x-y pattern seemingly completing this past week, and with what seems to be a nice 5 wave structure having developed to the downside in GDX, it looks like we have our set up for the final drop.
Breaking below the market pivot on the 8 minute chart without being able to move back over it is confirmation that we are likely heading down to the 9.65 region to potentially complete this 4+ year correction.
http://www.321gold.com/editorials/gilburt/gilburt012016.html
gold up over $14.00 to over $1100….I think the bearish case is heading for some headwinds given gold’s determined, plodding moves higher
8 Minute Chart ?
Just enough for the miners to backtest the breakout perhaps
Yup. Backtest.