Elliott Wave Counts For Gold, Silver, & T-Bonds
Jul 9, 2018
Short Term Update:
Upon the completion of wave !iv! we expect a wave !v! drop that should send gold back to at least our 1238.00 level, to complete all of wave ^c^ and *ii*.
On the intraday chart the rally from 1238.80 to the current high of 1266.90 looks like a 3 wave pattern, which is suggesting that once this pattern ends, gold will be heading lower again.
Silver also traded sideways in Friday’s day session, but in the overnight session we rallied to reach a high of 16.26.
Short Term Update:
If that is the case, we should now be moving lower in wave *c*, as shown on our “Daily US 10 Year Bond Yield Chart”.
Our minimum target for end of wave *c* is the wave *a* low of 2.759, but we do have our 50 and 61.8% retracement levels. These are much lower, as shown on the chart.
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