During last Friday gold consolidated at the highs in a corrective looking a-b-c down structure.
I consider that a-b-c pullback a continuation pattern that should produce another push higher targeting the Red Target box.
That push higher would complete subwave a of wave iii up and should be followed by a pullback to test the lows made last Friday.
I continue to expect silver to stretch higher at least to 26.76 to complete the micro wave v up.
Such a push higher would complete (a)-(b)-(c) up structure off the low made by silver at 21.96 on 11-30-2020.
Then we may get a larger pullback before we can expect continuation of the rally.
Moreover, any completed (a)-(b)-(c) up structure off a major low that fails to re-test the previous major high may be considered as a temporary pullback before another push higher. Therefore, completion of (a)-(b)-(c) up move would make me very cautious.
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