Elliott Wave Counts For Gold & GDX
Sep 5, 2018
Short Term Update:
The drop from 1220.70 to the current low of 1195.10 is still corrective looking, so we believe that all of wave .ii. likely ended at the 1167.10 low.
Our retracement level for this current small correction are:
The jobs report is on Friday, and gold could easily close over $1204 based on that report.
We are now waiting for confirmation that wave .ii. is complete at this low, and a break and close above the 1204.00 level was a very positive sign for this market.
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