The bad news is that both GLD and SLV have filled the most recent down gaps. The good news is that they both also have gaps still open well higher. Gold and silver do not have these gaps, but they do represent emotional or active junctures and in my opinion that matters.
If the bounce scenario is not ready yet then both gold and silver have filled their most recent smaller gaps and are free to drop again. But if this is just a normal gap fill and easing after the reversal of the last couple days the ultimate bounce targets could be to fill the gaps up near the SMA 50s.
Recall that if HUI bounces we are also targeting the SMA 50, which is converged with the SMA 200. Just an fyi update for a little perspective.
