Metals: the bottom is not in place yet
By
Gold: ideal target for the wave (v) of 3 is hit. Corrective bounce in the 4th wave is supposed to set up another leg down - to at least 1170 GC.
Possible target for the 4th wave is shown on the 4 hr chart - but I would NOT bet much money on presumable rally (right now, at least) as the 4th waves are extremely dangerous for trading.
Please note that the next target - 1170 support region - still resides in the territory of the 3rd wave; it means that decline could resume even lower (personally, I consider 1125 target shown on the daily chart to be a doable scenario).
Silver: support mentioned yesterday provided us with a bounce - which I primarily consider as corrective on the way lower. Possible triangle count remains on the table - it is valid between the 15.70 and 15.25 levels and is supposed to resolve to the downside into the 14.95 area.
I allow that 15.70 level might be breached - but corrective blue A - B - C micro count is what I assume could play out in this case.
As stated earlier, below 15.85 region I have no reasons to consider silver bottomed.
