My rules for now is to spot cycles form bottoms
I am very disappointed in metals right now, the 250 dollars range of the last bull rally in Gold shifted the side of the trade to the bulls on higher time frame (why i was still looking to buy), but this 120 $ pullback violates the 70 $ range on smaller time frame, canceling the potential bottom we had been waiting for. Next test will determine and thus confirm what is the next move to follow, only if 1309-1313 current level holds. case #1: 50-60 dollars bounce and more down, around ma34 test on daily or #2- breaks trough last high and goes to 164.27. i give it 50/50 since the confusion between higher and smaller TF.
Specific miners and SLV still holding above MA50 on daily timeframe