RDM charts, page-23

I know enough about Elliott Wave to make me dangerous! My count below. No divergences in the indicators and the MACD histogram is still widening, indicating that the down trend is powerful. What I want to see is a bounce and then some divergence on the retrace. Depending how far the price retraces will indicate the possible wave 3 price target. If RDM retraces to the 61.8% fib at 12c then the 1.618% (168%) price projects 40c for wave 3. Wave 3's can rise 2.618% (261.8%) and higher or only 1.0% (100%) as well but 1.618% is the normal projection. Wave 3's cannot be the smallest wave in percentage terms when comparing waves 1, 3 and 5.

Just something to note with gaps. The gap in wave A was closed with a 1 day spike down on very low volume. The current wave C gap sits at 9.7c and if RDM gets a very deep wave 2 pull back (green box), it will also close. March is normally a bad month for the markets and a correction in the US market is a high probability. Now, how this effects RDM and precious metals, I do not know. Just something to be mindful of.