Daud Bhatti

Gold Miners Junior (GDXJ) Looking to End Flat Correction


GDXJ, short for VanEck Vectors Junior Gold Miners ETF, is an exchange-traded fund (ETF) that focuses on providing exposure to junior companies involved in the exploration and mining of gold and other precious metals. This ETF is designed to track the performance of small and mid-cap companies within the global gold mining industry. The ETF is still in the process of ending an expanded flat correction. Below we will take a look at the Elliott Wave outlook for the ETF.

GDXJ Daily Elliott Wave View

Daily Elliott Wave Chart of GDXJ above shows that the ETF has ended wave II at 25.96. Up from there, wave ((1)) ended at 41.16 and wave ((2)) pullback remains in progress as an expanded flat. Wave (A) of ((2)) ended at 32.25 and wave (B) of ((2)) ended at 43.89. Wave (C) of ((2)) is in progress lower to retest 25.96. As far as 9.26.2022 pivot at 25.96 is holding, expect the ETF to extend higher.

GDXJ 4 Hour Elliott Wave View

4 Hour Elliott Wave Chart of GDXJ above shows that the ETF still remains in selling pressure within wave C of ((2)).  As far as the ETF stays below 43.88, expect further downside in the next several days/weeks to retest the low on 9.26.2022 at 25.96.

We do not cover GDXJ as part of our regular service, but we cover GDX, Gold, and other commodities, stocks, forex, and crypto currencies. If you’d like to check our service, you can take our 14 days trial here –>

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Elliott Forecast (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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