GBN.V vs. Gold

In reaching this new low, the elliot wave count for GBN.V vs. Gold had to be revised. A sharp elliot waver would have pointed out that the last wave was still to come during the summer. The 2008 financial crisis did more than it's share of damage for the sector:

http://scharts.co/163GcQG

GBN.V P&F Weekly

P&F says bearish price objective has been met @ 2¢. Monthly P&F still shows 18¢ as a bearish price objective, and this is quite some time ago, corresponding with the inverse correlation in the gold/silver price chart:

P&F Weekly Chart

-F6