6 Aug 2020 ● 06:44 AM
After a point of time it is hard to say anything about a security. Gold and Silver are in that moment. As they pace from one level to the next and technical indicators like the RSI appear overbought the only way you can follow this position is by using a trailing level on either the daily swings or hourly momentum cycles. This till you get a trend reversal. On an elliott wave basis wave IV for gold was too small and we are already in wave V. Now V=I and the rising channel are all near or above 2100. So that maybe the final levle where we halt and complete wave 3 up. 3=1 is already surpassed so the minimum is done and the 3rd wave is not shorter than wave 1.