by Avi Gilburt
After we caught the lows in late 2015 and early 2016 in the metals complex, the market has been acting quite bullish. But, “acting” bullish is not the same as resuming a bull market. The latter is that for which we seek confirmation in the current set up.
I believe we are at a very important juncture at this point in time in the metals complex. As we discussed last weekend, the market needed to complete a 5 wave structure off the prior lows. We now seem to have that in place in the charts we follow. That means that, if the market is truly immediately bullish, we will see a green wave (ii) corrective pullback take shape over the next week. As long as we drop correctively, then I will be looking for a break out within the next two weeks or so which can launch the metals complex into the heart of a (iii) of 3 of iii of wave (1) off the lows.