A little downwards movement was expected to a short-term Elliott wave target about 1,232. Downwards movement for the session reached 1,233.44, just 1.44 short of the target.
More downwards movement was expected.
Sideways movement continued at the end of the week, which is what the short term expectation was for the Elliott wave count.
A small doji candlestick continues sideways movement.
The expected direction for the breakout from this small consolidation is still the same.
Sideways movement continues as the preferred Elliott wave count expects.
More upwards movement for the short term was expected for both Gold and GDX.
Downwards movement continued a little further as the main Elliott wave count expected, but fell 8.69 short of the target.
Price continued lower.
Two short term pictures with a clear price point which differentiates them are presented today.
Another new low was expected. This is so far what is happening.
The bigger picture is updated today with a new weekly wave count.
A larger range day moves price overall higher, which fits expectations for the main Elliott wave count.