GDXJ Monthly Elliott Wave View
Monthly Elliott Wave Chart of GDXJ shows that the ETF made major low in 2016 at 16.36. We labelled this major bottom as wave ((II)). From there, the ETF rallied higher as a nest. Up from wave ((II), wave (I) ended at 52.5 and pullback in wave (II) ended at 19.52. The ETF nested higher in wave I at 65.95 and pullback in wave II ended at 25.8. Near term, while above 16.36, expect the ETF to extend higher.
GDXJ Daily Elliott Wave View
Daily Elliott Wave Chart of GDXJ shows dips to 25.79 ended wave II. The ETF then turned higher in wave III with internal subdivision as a 5 waves. Up from wave II, wave (1) ended at 41.16, and pullback in wave (2) ended at 30.46. The ETF resumed higher in wave (3) towards 49.13 and pullback in wave (4) ended at 40.26. Final leg wave (5) ended at 55.58 which completed wave ((1)) in higher degree. Pullback in wave ((2)) ended at 41.85 but the ETF needs to break above wave ((1)) to confirm the next leg higher has tarted. Near term, while above 25.75, expect the ETF to extend higher.
GDXJ 4 Hour Elliott Wave View
4 Hour Elliott Wave Chart of Gold Miners Junior ETF (GDXJ) above shows that cycle from 9.26.2022 low ended at 55.62 as wave ((1)). Pullback in wave ((2)) unfolded as a zigzag Elliott Wave structure. Down from wave ((1)), wave (A) ended at 44.11 and wave (B) ended at 51.03. Wave (C) lower ended at 41.88 which completed wave ((2)). The ETF has turned higher in wave ((3)). Up from wave ((2)), wave 1 ended at 53.05 and pullback in wave 2 ended at 47.29. Near term, while above 41.88, expect the ETF to extend higher.
GDXJ Elliott Wave Video
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