April 2019 – MMF

April 30, 2019: Silver has turned up in five waves, through all of the potentially-operative channels from 2011. Three down has followed that into .618 support and the gap left from the nearly 5 months of island on the way up in wave 1 (in SLV), suggesting an intermediate rally toward 22-26 at minimum.

April 29, 2018: Gold continues to work its way lower in wave 2 and as long as wave 2 does not accelerate lower, a double three should be completing with the next leg lower, which is probably underway already

April 25, 2019: Gold and Gold Mining continue to look lower under both counts I am monitoring and although it’s somewhat early in terms of time for wave 2 to normally bottom (1/3 retracement at 9 weeks vs. 27 weeks), with the truncation in wave (2) as shown, the possibility of a low soon must be monitored closely.

April 24, 2019: Silver pushed past all the potentially-operative channels in wave 1, and now wave 2 is into .618 support and ripening for completion.

April 23, 2019: Weekly momentum is making good progress toward oversold, as it should for this wave-2 low. In terms of time, Gold spent 27 weeks in wave 1, and wave 2 is into a 1/3
retracement at 9 weeks now.

April 15, 2019: I went into lots of details and longer-term charts and sentiment over the weekend on Gold so I wanted to drill down into the nearer-term action as it is pretty compelling right now. 

April 10, 2019: Gold still looks like it needs another several weeks to couple of months of work, in terms of structure and sentiment, to set up a better low in wave 2. 

April 8, 2019: Stepping back to the Quarterly chart, Palladium momentum and price action now have aspects of prior important tops to go along with other time-frames (aspects which are already quite extensive, as discussed in the Overview and in subsequent updates).