Approaching a Pullback

by Avi Gilburt
Gold Seek

Back in October and early November, I was preparing our members for the next rally phase I was expecting in the metals complex. And, when the 144-minute MACD on the silver chart signaled a bottom in early December, I noted it was no longer time to look down, but we need to be looking higher in a more serious way. And, since that time, the complex has certainly provided us a nice return for our accurate assessment. In fact, those that have been following our micro counts on this market would know just how well the market has been tracking of late.

And, while positive sentiment has certainly risen for the market of late, I still think most of the signals and structures I am following suggest much higher can be seen in 2020. But, that is not likely going to be seen without a pullback. In fact, the pullback in GLD is the one I will be watching most closely over the coming weeks since that is the one chart that provides me with the greatest concern of all the charts I track.

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