Elliott Forecast - Gold Miners ETF (GDX) Extending Higher in Impulsive Structure | ResearchPool

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Elliott Forecast

Daud Bhatti

Gold Miners ETF (GDX) Extending Higher in Impulsive Structure

April 4, 2024 By

Short Term view in Gold Miners ETF (GDX) suggests rally from 2.29.2024 low is in progress as a . Up from 2.29.2024 low, wave ((i)) ended at 30.48 and pullback in wave ((ii)) ended at 28.91. Internal subdivision of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 29.71 and wave (b) ended at 30.08. Wave (c) lower ended at 28.91 which completed wave ((ii)). The ETF then resumed higher in wave ((iii)) with subdivision as an impulsive structure.

Up from wave ((ii)), wave (i) ended at 30.9 and dips in wave (ii) ended at 29.53. The Index extends higher in wave (iii). Up from wave (ii), wave i ended at 30.39 and pullback in wave ii ended at 29.79. Wave iii higher ended at 32.69 and wave iv pullback ended at 31.71. Expect wave v of (iii) to end soon, then it should pullback in wave (iv) before the ETF extends higher again in wave (v) to complete wave ((iii)). Near term, as far as pivot at 29.53 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

GDX 45 Minutes Elliott Wave Chart

GDX Elliott Wave Video

Source:-forecast.com/news/gold-miners-etf-gdx-extending-higher-impulsive-structure/

04/04/2024 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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