What we need is a gap above the down sloping blue line to ring in 3 of 3 but if it stalls right here at a DDT then I have to say that it all looks very corrective so far and would thus have to count as 4 of 5. This would make sense if Avi't final M+M swoon is about to begin soon. He is still looking for a lower low on HUI and after such a big metals bear as we have had since 2011 I would expect some kind of hard double bottom to be needed before the bears would give it up.
While the bullish model is still alive, it's hanging on by its fingernails IMO and it really will take a big gap up to change that view. But if we see that gap up, don't discount it! Don't chase it but do buy the subsequent dip.
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